Recognizing individuals and organizations for excellence in increasing financial literacy among Wisc 2025

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The U.S. FLEC highlights five principles as the building blocks of financial literacy, known as the MyMoney Five. EARN. SPEND. SAVE INVEST. BORROW. PROTECT.
In Wisconsin, for example, Governor Tony Evers created the Governors Council on Financial Literacy and Capability, which helps Wisconsinites build financial capability and identify ways to improve the financial inclusion of all Wisconsin residents.
In the example of saving money, financial literacy helps us identify the need to save and the solution of creating a budget. Financial capability comes from practice and experience working with budgets and gives us the confidence to get started and, more importantly, stick with it.
Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. When you are financially literate, you have the essential foundation for a smart relationship with money.
Financial capability is the capacity, based on knowledge, skills, and access to manage financial resources effectively.1 This can help youth achieve adult financial well-being, which happens when they can fully meet current and ongoing financial obligations, feel secure in their financial future, and are capable of

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A strong foundation of financial literacy can help support various life goals, such as saving for education or retirement, using debt responsibly, and running a business. Key aspects of financial literacy include knowing how to create a budget, plan for retirement, manage debt, and track personal spending.

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