Building a strong foundation in finance means having the knowledge, skills, and habits that enable you to manage your money effectively and achieve your financial goals. A strong financial foundation can help you improve your financial wellbeing, protect yourself from financial risks, take advantage of financial opportunities, and contribute to the economic and social development of your community and country.

There are many steps you can take to build a strong foundation in finance, but here are some of the most essential ones:

- Understand your personal finances: The first step is to know where you stand with your money. You need to track your income, expenses, assets, liabilities, and net worth. You also need to check your credit score and report regularly. You can use tools such as budgeting apps, personal balance sheets, and free credit reports to help you with this task¹².

- Set clear financial goals: The second step is to define what you want to achieve with your money in the short-term and long-term. You need to have specific, measurable, achievable, relevant, and time-bound (SMART) goals that reflect your values, priorities, and aspirations. You also need to break down your goals into smaller steps and monitor your progress. You can use tools such as goal-setting worksheets, financial planners, and online calculators to help you with this task³⁴.