Even if you think you know a lot about money, you can always go the extra mile to increase your financial literacy.
Being financially literate means making smart choices about money and your finances consistently. And it includes understanding some basics, like knowing how your debt accrues interest, how to manage your credit card spending and credit score, and building enough savings for retirement. Financial literacy can also help you save money. In fact, lacking essential knowledge about money costs the average consumer nearly $1,634 in 2020, according to the National Financial Educators Council, a nonprofit group devoted to achieving financial literacy.
Test your financial literacy with Stash’s quiz: