I think there's a synergy between knowing how to spend money and financial literacy. Although you cannot judge based on what you know if someone knows how to spend or not. Spending money is solely a matter of the choices we make.
But financial IQ is still a main factor in determining this. Because we all spend based on what we know.
It's more about having money money versus being able to spend without flaws. One's practical one's theorotical. At the end of the day, irrespective of our literacy we cannot teach people how to spend Money no matter how much we know.
That's so true.. you can't teach people how to spend.
Everyone knows how to spend (in their own way). And that makes everybody to know how to spend money.