How does financial education impact financial literacy and financial behavior?

Financial education can have a significant impact on financial literacy and financial behavior. By teaching individuals the concepts and skills necessary to manage their finances effectively, financial education can improve financial literacy levels. With higher levels of financial literacy, individuals can make more informed and effective financial decisions that can positively impact their financial behavior. Financial education can also help individuals develop better financial habits, such as budgeting, saving, and investing, which can lead to improved financial behavior and outcomes over the long term. Additionally, financial education can help individuals avoid financial mistakes and scams, which can protect their financial wellbeing.