If you’re reading this story, then you’re already ahead of the curve. That’s because adults and teenagers in the U.S. – and worldwide – are enormously ignorant when it comes to financial literacy. They struggle to understand basic concepts such as how interest works, why inflation matters and how to evaluate investment risks.
That ignorance is worrying, experts say. “There’s a lot of money to be made on bad [financial] decisions,” says Billy Hensley, senior director of education with the National Endowment for Financial Education, a Denver-based foundation focused on improving financial literacy. “There are predators out there who want you to make poor financial choices so their bottom lines go up.”
Want to make the grade when it comes to financial literacy? You should. Here are five concerning statistics about financial literacy … and how to avoid becoming one. Read more at U.S. News and World Report