The ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being. -- President's Advisory Council on Financial Literacy
“Possessing the skills and knowledge on financial matters to confidently take effective action that best fulfills an individual’s personal, family and global community goals.” --National Financial Educators Council
The ability to make informed judgments and to take effective actions regarding the current and future use and management of money.
--Government Accountability Office (GAO)
The possession of knowledge and understanding of financial matters. Financial literacy is mainly used in connection with personal finance matters. Financial literacy often entails the knowledge of properly making decisions pertaining to certain personal finance areas like real estate, insurance, investing, saving (especially for college), tax planning and retirement. It also involves intimate knowledge of financial concepts like compound interest, financial planning, the mechanics of a credit card, advantageous savings methods, consumer rights, time value of money, etc. --Investopedia
The ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it (turn it into more) and how that person donates it to help others. --Wikipedia
Financial literacy is the ability to use knowledge and skills to manage one’s financial resources effectively for lifetime financial security. -- Jump$tart