Breaking the chains of indebtedness: Reflections on financial education (Original).

Abstract

In this review article, the importance of financial education in the context of indebtedness is highlighted. Through research, it seeks to analyze habits and levels of indebtedness, with the aim of providing the necessary tools to lead a quiet financial life. It is common to find situations where the money factor becomes the protagonist, both individually and as a family. Many times, these altercations could be avoided if people had adequate financial education that allows them to plan their expenses and borrow rationally. One of the main aspects addressed in this document is indebtedness. While acquiring debt can lead to inconvenience, it can also be an opportunity to improve finances if money is managed efficiently and debt limits are recognized. Avoiding falling into the game of acquiring credits to solve other credits is essential to avoid the cycle of over-indebtedness, which not only affects the pocket, but also health. Therefore, the need to promote financial education from an early age is evident, especially among young people, providing them with the necessary tools to make responsible financial decisions and avoid falling into financial traps that may harm their economic and emotional well-being.