How Financial Literacy Can Help You Avoid Mistakes and Build Wealth

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Without strong financial literacy, we simply cant make informed decisions about money.

But how exactly does financial literacy benefit us?

Here are 5 ways it can help you avoid costly mistakes andbuild wealth.

Financial literacy helps you understand the risk of playing it too safe.

Many people dont realize the impact of these accounts until its too late.

Roth IRAsand HSAs also offer huge tax benefits that can help build long-term wealth.

If you lack financial literacy, you may fall for this trap without realizing the long-term consequences.

Credit card companies love financially uninformed consumers because they make billions offhigh-interest debt, Latham said.

Without proper knowledge, its easy to make expensive mistakes that can harm your long-term financial security.

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