What is Financial Literacy?

This site defined Financial Literacy as the ability to make informed judgments and to make effective decisions regarding the use and management of money.

However, some of the steps suggested are very limited to only managing of your expenses and saving the rest.  Personally, for me, financial literacy covers a bigger specrtrum than just money and expense management.  In fact, Robert Kiyosaki’s definition of finacial literacy includes fundamental understanding of accounting, taxes, economics and also business building skills.