Financial education and money
management play an important part in wealth building because people who grasp these ideas are better able to make informed financial decisions and grow their wealth.
Access to effective financial education assists people in developing important skills such as budgeting, saving, investing, and risk assessment, which ultimately contributes to their long-term financial success.
If wealth is originally dispersed equally, people with greater financial education and money management abilities will likely amass wealth faster, resulting in differences over time.