Author(s): Sophia A. Kassapi
The interest of this paper lies within financial literacy & education. Principles such as diversification of investments, exploitation of the power of interest compounding, taking advantage of tax-favored assets or employer matches are fundamental. Asteriou & Siriopoulos dictate the prevalence of vocational education, through which various financial skills emerge. How to be less vulnerable to financial fraud, use debt responsibly, runs a business efficiently, knowledge of interest compounding and numeracy are the strongest predictors of planning and economic growth. Any saving plan requires the ability to calculate present values, and an understanding of the advantages of starting to save early in life that can benefit every investor.