Written by the Fiveable Content Team • Last updated September 2025
Verified for the 2026 exam
Verified for the 2026 exam•Written by the Fiveable Content Team • Last updated September 2025
Definition
Financial access refers to the ability of individuals or communities to obtain financial services such as banking, credit, loans, and insurance. It ensures that everyone has equal opportunities for economic growth and stability.
Related terms
Financial Literacy: Financial literacy refers to the knowledge and skills needed to make informed decisions about money management. It includes understanding concepts like budgeting, saving, investing, and debt management.
Microfinance: Microfinance involves providing small loans or financial services specifically targeted towards low-income individuals or entrepreneurs who lack traditional collateral or credit history.
Economic Empowerment: Economic empowerment focuses on enabling individuals or communities with the tools and resources necessary for financial independence and self-sufficiency.