Financial Literacy Day 2025: The importance of acquiring financial knowledge to build a secure future

In 2022, a circular of Bangladesh Bank decided to observe Financial Literacy Day on the first Monday of March every year. Accordingly, Financial Literacy Day began to be celebrated in Bangladesh for the first time on March 6, 2023. Similarly, Financial Literacy Day is being celebrated digitally today on the first Monday of March. 

Acquiring financial knowledge does not mean just saving or investing money, but rather it is a process of consistent financial planning, knowledge and responsible decision-making. To become financially capable in line with the current world, we have to educate ourselves financially. As a result, we will be able to face the various obstacles of our current lives and make our future more secure. 

Around 72 percent of the people of our country are still far from financial literacy, and even about 30 million people are still out of banking facilities. In such a situation, there is no alternative to acquiring financial knowledge to contribute to the overall economic development of the country. Acquiring financial knowledge can make our future safe and secure. There are at least 4 important aspects of acquiring financial knowledge to build a secure future that can affect our lives. 

1. Importance of financial knowledge in personal life:

Financial knowledge is the foundation of personal financial planning. To make the right decisions in our budget planning, savings, investment and debt management, it is necessary to have basic knowledge of financial matters. We need to acquire this knowledge to use various bank services, such as savings schemes, fixed term deposits, loan facilities, etc., appropriately. Financial knowledge not only strengthens the current financial situation but also acts as a right guide for future decisions. 

2. Secure future through savings and investments:

One of the most important aspects of banking services is the opportunity to save and invest. By saving regularly and investing it properly, we can maintain our position in any financial crisis or emergency. Our small savings or investments also grow over time, which helps us ensure a strong and stable financial future. In addition, we can reduce the risk of our assets and achieve profitable results by using various investment products such as savings certificates, treasury bonds, treasury bills, mutual funds, securities and insurance policies, etc.

3. Role of banks in acquiring financial knowledge:

Banks are not only a platform for financial transactions, but they are also a learning platform for financial knowledge. Banks conduct various financial education programs, seminars, workshops and awareness programs for their customers. By participating in these educational programs, we can get a detailed idea about proper investment strategies, risk management and future financial planning. Experienced bank officials or representatives help us to set our financial goals and develop plans accordingly. 

4. Proper and responsible financial planning:

Proper and responsible financial planning is essential to achieving financial independence. In this process, we have to make a proper balance between income, expenditure and savings. Keeping track of expenses in daily life, avoiding unnecessary expenses and making proper investment plans for the future are the main elements of this plan. By using the bank's modern technology and mobile banking services, we can easily keep track of our expenses, savings and investments, which will help us in financial transparency and financial control.

Finally, in the spirit of "gain financial knowledge, build a secure future", regardless of gender, with proper financial knowledge and planning, we can not only improve our current financial situation but also create a strong foundation for the future. With the help of financial education and proper planning, we can ensure peace, stability and progress in our lives. So, let's all gain financial knowledge together and build a secure, prosperous future.

M M Mahbub Hasan is a banker of Prime Bank PLC and development researcher