Proverbs is a particular style of writing that often says things twice but in a slightly different way. However, the meaning is the same. So in 1v2 wisdom and understanding is the same as words of insight. And in 1v3 wise dealing is another way of describing right relationships, right decisions and right judgements.
Therefore the truly wise person quickly grasps that the beginning of wisdom is rooted in a correct understanding and attitude to God. Whereas the foolish person will despise (reject, dismiss, disregard) all the instruction, insight and input God wishes to have in their life (1v7).
Often God starts this work through families and hence 1v8 encourages a receptiveness to your parents instruction and insight (especially those who fear God). If that is not a good experience for you, find a church family where others who are older than you in the faith can be a catalyst for God's work in your life. In addition soak yourself in the Proverbs daily and learn direct from the Father himself.
Over the next 31 days let's make our prayer be "Lord, I am listening, I will be guided, I want to grow and I want to apply your wisdom in my life".