Mastering Money: Why Financial Literacy is So Important

By | Personal Finance

Do you know why financial literacy is important? Many Americans think they have a strong handle on financial basics, but they may be surprised when actually putting their knowledge to the test. According to the Financial Industry Regulatory Authority, 63% Americans are considered financially illiterate. In order to come to this conclusion, FINRA asked respondents a series of questions meant to test their knowledge of basic financial and economic principles most of us encounter in our day-to-day lives. The questions covered topics ranging from interest and inflation to bonds and mortgages, with the results being less than ideal. According to…

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