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Money touches just about every part of our daily lives. It influences what we buy, where we live and how the future unfolds. If you’ve paid higher prices at the gas station or grocery store lately, you’re probably thinking about money more than usual.
But how much do you really know about the nitty-gritty details of spending and saving? What about credit scores? Taxes? Investing?
In honor of Financial Literacy Month, we put together a pop quiz (with a little help from AI) to test your personal finance knowledge. We’ve gathered some resources to help you learn more, too.
What is ‘financial literacy’ anyway?
Financial literacy is understanding financial concepts such as budgeting, saving and investing. It’s also being able to use that knowledge to make informed decisions about money. It can include recognizing how economic conditions, such as inflation, affect finances.
Financial literacy also means knowing where to turn when you don’t understand something about money, Samantha Mockford, a certified financial planner with San Francisco-based firm Citrine Capital, said in an email interview.
That might involve finding someone who can explain a concept without using jargon, she said. Or it could mean searching for answers online and evaluating whether a source is reputable.
Financial literacy quiz
So, how much do you know about personal finance?
» Nerd out with us! Take our quick reader survey to help us give you a better, Nerdier experience.
Why should you care about financial literacy?
Arming yourself with financial knowledge gives you the skills to manage your money, prepare for the future and adapt to changes.
A lack of financial literacy can lead to mistakes and missed opportunities. That can have real consequences for your money — and your life.
“As humans, we tend to avoid things we don’t understand,” Carla Adams, a CFP in Lake Orion, Michigan, said in an email interview.
“If you don’t understand investing, you’re much less likely to invest. And not investing means missing out on significant long-term growth that can literally be the difference between being able to retire in your 60s, or earlier, versus not at all.”
Not having a financial education can leave you more vulnerable to money scams, debt traps or coming up short when an unexpected expense hits. Or, it could simply mean you aren’t making the most of your money.
Despite progress, obstacles remain
Financial literacy is becoming a more regular focus beyond Financial Literacy Month in April, especially in youth education.
Currently, 39 states require students to complete a personal financial course to graduate high school, according to the 2026 Survey of the States from the Council for Economic Education, a nonprofit focused on improving financial and economic education for K-12 students .
That’s four more states than in 2024, when the previous survey was conducted. Still, financial literacy remains a challenge for many people.
Financial planners say understanding taxes and equity compensation are among the biggest gaps they see with young professionals. Strong emotions and misconceptions often get in the way of learning.
“The biggest hindrance I see to financial literacy is shame,” Mockford said. “It's OK and common to be ignorant, but if we are too ashamed to admit ignorance and ask questions, then we will stay ignorant.”
“Adults too often think, ‘I should know this by now’ and learn through costly trial and error instead of asking the people around them.”
Adams adds that money can feel like a taboo topic because many people don’t learn about it at home.
“And even well-intentioned parents often don’t feel confident enough to teach it," she said.
Another barrier is the mindset that financial knowledge is for the wealthy, Patrick Yaghoobians, a CFP in Los Angeles, said in an email interview.
"I have heard many people say, 'When I have money, I'll start to focus on my finances.' But the reality is, we don't have to wait to start.”
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How can you learn more about money?
You don’t have to get a degree in finance or economics to boost your financial knowledge.
“There are so many resources out there,” Yaghoobians said. “Whether it's a book, a podcast, or a YouTube channel, there is some sort of consumable content for people to start their own journey.”
You can find plenty of free, reliable sources available online. Still, don’t underestimate the power of conversation. Real people can give valuable perspectives that technology or reading materials may not.
Ask the people in your life about their money experiences. Take a class or work with a professional, such as a financial advisor. At the very least, it might help you get more comfortable talking about finances.
Financial literacy resources from NerdWallet
Reading up on the basics is a great way to educate yourself. NerdWallet writers and editors spend their days digging into a range of personal finance topics to help make them easier to understand. Here are some articles to get you started:
» More of a listener than a reader? Explore NerdWallet’s Smart Money and Smart Travel podcasts
Other financial literacy resources
Here are a few more ways to learn about money, recommended to us by CFPs.
Books
- “Your Money: Reimagining Wealth in 101 Simple Sketches” by Carl Richards. Yaghoobians said, “As important as it is to know the technical side of financial literacy, I am a strong believer in the emotional side of money that can't be measured. This book helps break down barriers or misconceptions people may have about money in a way that is easy to digest, whether you have the knowledge already or not.”
- “Money Out Loud: All the Financial Stuff that No One Taught Us” by Berna Anat. Mockford described the book as “financial basics in the sassy, high-energy tone of a teen magazine. She’s great at making intimidating concepts accessible.”
- “Broke Millennial” by Erin Lowry and “Get a Financial Life” by Beth Kobliner. Mockford said these reads provide “practical advice for establishing financial health while you’re still relatively young. It’s easy to read just the chapters that pertain to your current life stage.”
Courses and websites
Mockford’s favorite resources also include:
- Khan Academy's comprehensive, simple, interactive financial literacy class and personal finance course. Both are free.
- NapkinFinance.com, a website that uses simple infographics doodled onto napkins to answer common money questions.
These are just a few of the many, many options out there. Feeling overwhelmed? Don’t sweat. Remember, you don’t have to learn everything right away. Start small, and find the approach that works best for you.
Article sources
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- 1. Council for Economic Education. 2026 Survey of the States. Accessed Mar 27, 2026.
