This entrepreneur is spreading financial literacy on TikTok [Video]

When it comes to money, knowledge is power. But in the U.S., many adults still don’t have the knowledge they need to best handle their finances.

Only 57% of U.S. adults are financially literate, according to a Marketwatch Guide study, which can cost people a lot of money.

Last year, Americans lost an average of over $1,500 because of financial illiteracy, according to the Financial Educators Council.

Today, financial information is everywhere, including on TikTok.

Ashley Fox is the CEO of fintech company Empify. She’s a former Wall Street analyst who now works to make finance more digestible for the masses, including her 75,000 TikTok followers.

She joins Scripps News to talk about starting her own business, applying Wall Street strategies to personal-scale investing and connecting with a new audience who’s looking for advice.