Most individuals in all income levels including MSMS have some challenges in managing their hard earned financial resources. Some of these challenges can be attributed to lack of financial control by some individuals. Financial planning on the other hand has the capability to equip individuals to handle the majority of the financial challenges that individuals may come across. The ability to receive this empowerment that enables an individual to make good financial choices is what is referred to as financial literacy.

Financial literacy can also be described as the cognitive understanding of financial components and skills such as budgeting, investing, borrowing, taxation, and personal financial management. The absence of such skills is referred to as being financially illiterate. (https://corporatefinanceinstitute.com/resources/ knowledge/finance/financial-literacy/)

Achieving financial literacy in today’s world is an important undertaking because of the so many facets of life that we encounter on a day to day basis such as loans, mortgages, credit cards, investments, and health insurance.

There is therefore a need for everyone including people running MSMS to come to the understanding of the importance of staying financially healthy even as they earn, save and invest their available and future finances in the wake of the global pandemics such as Covid 19 and digitized environment.

A Clark Quote “Many folks think they aren’t good at earning money, when what they don’t know is how to use it.” (https://www.brainyquote.com/quotes/frank_a_clark_156710)

This course is therefore designed to highlight the financial literacy skills and why they are important for Small and Medium scale businesses. The course will also introduce the participants to Digital Financial Literacy so as to appreciate opportunities that are brought by digital platforms in finance issues and the security challenges that come with these platforms.

LEARNING OBJECTIVES

• At the end of this training participants will be able to;
• understand the Financial literacy and the importance of being digital Literate • implement Digital Financial Literacy skills
• implement a personal Literacy plan
• learn how to practice some literacy skills