The Power of Financial Literacy in Building Wealth Financial literacy is the foundation upon which financial stability and wealth are built. Despite its importance, many people lack the knowledge and skills necessary to make informed financial decisions. This blog explores the significance of financial literacy, its impact on personal wealth, and strategies to enhance financial knowledge. The Importance of Financial Literacy Financial literacy involves understanding various financial principles and concepts, such as budgeting, saving, investing, and debt management. It empowers individuals to make sound financial decisions that lead to long-term financial stability. According to a 2020 study by the Financial Industry Regulatory Authority (FINRA), only 34% of Americans could answer at least four out of five basic financial literacy questions correctly. This gap in financial knowledge highlights the need for greater emphasis on financial education. The Impact of Financial Literacy on Wea
