Financial literacy is the possession of a set of skills and knowledge that allows individuals to make informed and effective decisions with the financial resources available to them. Having a clear understanding of basic financial concepts empowers people to better navigate financial systems more effectively. In other words, people with the appropriate financial education make better financial decisions and manage their money better that those without such education.

Yes, lucky indeed.  But what about families in different or more complex situations?  How would they deal with the sudden or unexpected death of a loved one who is a significant financial provider to the household?  The easy and almost textbook-like answer is “life insurance”. 

One of the options on the rise to enter the stock market is to set up an investment club. These clubs are made up of amateur investors who want to operate on the stock market with small capital. Retirees, students, university students or housewives have made their first steps in the stock market resorting to this option. Clubs are more interesting at times like the current one, where uncertainty and stock market instability predominate.

Relative poverty and limited political influence of the African American Community is closely associated with its limited possession of wealth, i.e. of business and financial assets as well as human capital. The African American middle-class is barely more likely to buy financial instruments like stocks as compared to the working-class white ethnics determined to upgrade their social status.