At the heart of handling your personal finances is managing your money so that some income is available after covering your expenses. Proper money management should produce some amount (see "Paying Yourself") for the short term and the long term financial goals, and to meet unexpected expenses and emergencies. This money set aside is your savings.
The ability to put your money to work, or invest it, is a central concept in personal financial management. You can invest in yourself or your children (through education), you can invest in relatively simple or highly complicated financial and banking products, and you can invest in property like purchasing your own home. Whatever your choice, it is important to understand your options and to balance your risk in investing in that option. Are you willing to take money out of your savings and invest it, ideally so it grows over time, if there is a chance you might lose some or all of that money?
Learn about the different services banks provide.
Having knowledge about the range of investments and knowing how to research and obtain information about specific investment options are integral to financial literacy.
Get an overview of how the stock market works.