If you've heard the term "financial literacy," it doesn't refer to being conversant in accounting terminologies (although that can help). Financial literacy is the capacity to employ the knowledge and skills you have to successfully manage your financial resources for a lifetime of financial well-being.

Financial incapacity can make it difficult to make big financial decisions such as opening the appropriate types of bank accounts, saving for retirement, and repaying personal obligations such as college loans or credit cards.

If you have difficulties with decisions like this, then this episode is definitely for you.