Explain ways to manage money wisely and what are the effects if you have poor financial literacy skills?

Have a budget, they help a lot. Save up for big purchases, Track what you spend, even small things and add them up. So you know that you didn’t overspend your budget. Buy things that you need, not what you want all the time. Once in awhile you may spoil yourself, but be careful and make sure you’re doing everything the right way. The effects of poor financial skills are, debt you can end up with a lot of it if you don’t manage your money, If you’re planning to have children, it is important that you manage your finances responsibly. Poor financial management can easily lead to overspending. Preparing in advance for large expenses is critical. It is much more rewarding to save for your next big purchase, and then run up your credit cards. If you are not careful, it can lead to further debt, which can easily spiral out of control. Hope this helps!!

The answer is a or b

To inform the reader