of them understanding the economists definition of wealth. That sounds like a lot, but it actually is quite easy to understand.

Simply put (and I know you know this stuff), but wealth is simply financial position/status. Debt is a tool often used by others to transfer your wealth to them. Having savings, education, and/or work experience increases your options. The more options you have, the better jobs you can have, the better QOL you can have, the better pay you can have, and usually some combination of all three. And along with that, we all know that it takes money to make money, but it also takes money to save money (it's really the same principle, but the contexts are slightly different).