Dick Wagner, CFP, was fond of saying that understanding money and how it works is a 21st Century survival skill. This is not an exaggeration. What you don’t know about money—as well as what you think you do know about money—has the potential to literally kill you and those you love. A comprehensive research project done by Columbia University in 2011 on the impact of social factors on mortality found that 4.5% of U.S. deaths could be attributed to poverty. Research overwhelmingly supports a huge correlation between financial illiteracy and not having enough money. Read more here.
The FIRE (Financial Independence, Retire Early) movement advocates extreme frugality