Your Guide to Smarter Money.
Bridging the Gap: Expanding Financial Literacy and Investing Access Across Income Classes
Financial literacy is one of the most valuable skills a person can have. It means understanding how to earn, manage, and invest money — and using that knowledge to make better financial choices. People with strong financial literacy can budget effectively, avoid debt, plan for retirement, and take advantage of investment opportunities.
About Me
My name is Luke Green and I am a senior at the Williston Northampton School in Massachusetts.
My journey in finance started as a 12 year old flipping sports cards for profit the summer before 7th grade. In that summer, I was able to turn 24 dollars into 9,000 by taking advantage of an undervalued market. That kickstarted a journey for me in investing outside of just sports cards. Since then I have started and led the Student Managed Investment Fund (SMIF) as President at Williston as well as gaining outside experience in the finance world.
My goal for this website is to offer important information about financial literacy and for everyone to gain the understanding needed to achieve their financial goals. If you have any questions, please send a chat through the websites open forum, or email me directly.
Why It Matters:
Financial literacy is not optional — it’s essential for long-term stability and opportunity. Without it, people are more likely to overspend, accumulate high-interest debt, or neglect retirement savings. This can lead to foreclosure, bankruptcy, or financial stress that lasts a lifetime.
With financial literacy, individuals gain:
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Financial literacy also strengthens society. When households are financially secure, communities experience less stress, more homeownership, stronger credit, and better economic stability overall.
The Literacy Gap
Despite its importance, financial literacy rates in the U.S. remain troublingly low. According to the TIAA Institute–GFLEC Personal Finance Index, the average American correctly answers only about half of basic personal finance questions — a statistic that has stayed flat for nearly a decade.
By Income Group:
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28% of those earning <$25,000 are financially literate.
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38% at $25,000–$49,000.
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47% at $50,000–$99,000.
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58% of those earning $100,000+.
The U.S. median income ($43,289) falls in the range where most people are still more likely to be financially illiterate than literate. This highlights a strong correlation between income and knowledge: those with fewer resources also have less access to financial education, which perpetuates cycles of struggle.
Efforts to Improve Financial Literacy
There are many efforts — government, nonprofit, and private — to close the financial literacy gap. Some have shown success, but overall progress remains slow.
Comparing Online Brokerages
Digital platforms have revolutionized investing, lowering costs and improving access. Here’s how the top options compare:
Financial Terms & Definitions
Understanding money starts with knowing the language of finance. This section breaks down common terms into simple, easy-to-follow definitions so you can feel confident in managing your personal finances. Whether it’s budgeting, credit, debt, or investments, clear knowledge of these basics can help you make smarter financial decisions every day.
Basic Investing Strategies
Investing helps you grow wealth, but every option carries different levels of risk and reward.
Stocks
High potential returns, high volatility. Best for long-term growth.
ETFs
Diversified, low-cost, beginner-friendly.
Mutual Funds
Professionally managed, common in retirement accounts.
Index Funds
Passive, cheap, excellent for beginners and long-term investors.
Bonds
Lower risk, steady income. Treasuries are very secure; corporate bonds vary.
