For this reason, it is useful to examine the recent experience with supply-side shocks and to draw some lessons from this experience. As Figure 2 shows, the oil price has climbed sharply in the last few years, from under $ a barrel in 2003 to its high of over $ a barrel in early August of this year.
Financial Literacy is not just about markets and investing, but also savings, budgeting, financial planning, basics of banking and most importantly, about being “Financially Smart”. To understand financial planning, a person should be financially literate and be able to understand the importance of preparing household budgets, cash-flow management and asset allocation to meet financial goals.