How does financial education differ from financial literacy?

Financial education and financial literacy are related concepts but have some differences. Financial education refers to the formal or informal training and education provided to individuals to improve their knowledge, skills, and attitudes towards financial matters. It involves a structured approach to learning about various financial topics, including budgeting, investing, credit management, and retirement planning.

On the other hand, financial literacy refers to the ability to understand and use various financial concepts and products effectively. It refers to a person's ability to manage their financial resources, make informed decisions, and take responsibility for their financial wellbeing.

In other words, financial education is the process of acquiring knowledge and skills related to financial management, while financial literacy is the practical application of that knowledge and skills. Financial literacy is the end result of financial education.