Financial Literacy

Being financially literate generally enlightens us in various ways through which we can invest our money and generate more wealth. It prevents us from making poor financial decisions.

At MackHouse Capital, we understand the need for financial education. That is why 8% of our fees from the Bulging Wallet portfolios goes towards the promoting of financial literacy.

What is Financial Literacy?

Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. The meaning of financial literacy is the foundation of your relationship with money, and it is a lifelong journey of learning.

It empowers individuals on how to invest and create wealth. Being financially literate generally enlightens them in various ways through which they can invest their money and generate more wealth. It prevents them from making poor financial decisions.

Why the Need?

Only 57% of adults in the United States are financially literate, according to the Milken Institute.

While a majority of parents say they are responsible for teaching children about finances, 31% say they never talk to their children about the topic, according to a CNBC + Acorns and Momentive survey.

Financial literacy advocates believe too many students, especially those in low-income neighborhoods, don’t receive any personal finance education in school.

Only 12 states require high school students take personal finance as a standalone course to graduate, according to Next Gen Personal Finance.

Studies show financial education makes a significant impact – improving rates of savings, lowering levels of debt, and increasing rates of asset accumulation.

Research shows finance knowledge helps Americans make better decisions with their hard-earned cash.