Why is it important for carl to be financially literate?

Financial literacy is crucial for Carl as it empowers him to make informed decisions about budgeting, saving, and investing, ultimately leading to better financial stability. It helps him understand credit, loans, and interest rates, enabling him to avoid debt traps and manage expenses effectively. Additionally, being financially literate equips Carl to plan for future goals, such as retirement or purchasing a home, ensuring he builds a secure financial future. Overall, these skills foster confidence and independence in managing his financial life.