If so, you are not alone. 52% of Americans gave themselves an A or B grade on their saving and investing knowledge despite giving the average American a failing grade of D, according to a new survey by Genworth Financial.
The survey found that 97% of respondents agreed that financial literacy was important, but as many as 88% did not feel their financial literacy to be adequate.
Most notably, almost 60% of respondents blamed the financial woes of pre-retirees and retirees on lack of financial education.
Find more statistics here: http://www.accountingtoday.com/news/Americans-Grade-Themselves-Highly-Financial-Literacy-68008-1.html
Here at McCarthy Law PLC, we can see the effects of this survey on a daily basis. Honest, factual information on debt settlement and consumer legal defenses is instrumental to a complete financial education–yet it is glaring slim. You cannot be literate in finances if you do not know that your unsecured debts can likely be negotiated for substantial reductions if you, your family, or your business has undergone some type of financial, personal, or medical hardship. A debt settlement law firm will work to settle your bad debts, enabling you, your family, or your business to get on your feet and implement other financial goals.
Kevin Fallon McCarthy
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