Why Financial Literacy Alone Will Always Fail

Three reasons why financial literacy alone fails to improve financial well-being.

A thumb's up and a thumb's down sign.
(Image credit: Getty Images)

April is financial literacy month, and it’s dedicated to educating people on basic money concepts such as budgeting, saving, debt, compound interest and investing, just to name a few. Given that only 57% of adults in the United States are deemed to be financially literate, it’s certainly something we need to address. Improving the financial literacy of all people is a noble cause, but many questions remain surrounding how to do it.

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Brent Weiss, CFP®, ChFC®
Co-Founder and Head of Financial Wellness, Facet

Brent Weiss is co-founder and Head of Financial Wellness at Facet. His belief that financial wellness is essential to living well and that all people deserve access to the kind of financial advice that can lead to an enriched life has been the driving force behind the firm's mission and vision. He is dedicated to enabling greater access to innovative, next-generation planning solutions and technology that can improve the quality of life for all people.