How Does Financial Literacy Affect My Financial Success and Happiness? Imagine that your professor has assigned an essay asking you to analyze the relationship between financial literacy. financial responsibility, and financial happiness and success. As you think about these concepts and how they relate to you and one another, you realize that a logical and interlinking relationship exists between these concepts, your philosophy regarding money, and your outcomes. In a situation like this, it is helpful to construct a flowchart to organize your thoughts. In the following flowchart, four concepts and the connections between them have been drawn for you. Follow the layout of the diagram and fill in the titles and the blanks within the concept boxes to complete the flowchart. Financial Literacy Knowledge of the facts, concepts, principles, and technological tools that bring about money practices. The concept that you control your own financial destiny and are accountable for mistakes and of opportunities Knowledge of Personal Financial Planning Allows you to make informed decisions about: Managing your spending, saving, and investing Maintaining your creditworthiness Purchasing insurance The achievement of desired, planned, or attempted financial goals and aspirations. Financial Happiness The positive feelings resulting from engaging in good financial behaviors. Among the good financial behaviors are (1) paying your bills (2) spending than you earn and investing for the future, and (3) knowing where your money goes This should be defined by and may include having an abundance of money, property, investments, and other resources, or