6/21/22-Lack of Financial Literacy Costing Consumers, but Banks Can Help

Lack of Financial Literacy Costing Consumers, but Banks Can Help

June 14, 2022 | banking journal.aba.com

According to a new survey from the National Financial Educators Council, a lack of personal finance knowledge costs an estimated average of $1,389.06 per individual, or $352 billion total in the U.S. each year. Additionally, nearly 20 percent of respondents said they lost over $2,500 last year due to gaps in knowledge.

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