Financial Literacy is all about understanding of how to manage money, understanding how investments function and how to plan for the future (financial planning). The lack of Financial Literacy is evident and affects all ages and all socioeconomic levels. Many people have over-stretched their financial capabilities and have gotten into debts. Some of them have fallen into even get-rich-quick scams, resulting in loss of life savings, bankruptcy or even foreclosure of their homes. Owing large amounts of debt and making poor financial decisions are prevalent. For example, to spend your entire week’s allowance in one day could mean going hungry for the rest of the week or being unable to save for your new toy.