Americans Are Less Financially Competent Than They Think [INFOGRAPHIC]

[RDS]

Financial woos can be stressful. The infographic might help to reduce some stress.

A new study by the National Foundation for Credit Counseling revealed that many Americans grade themselves with a C, D, or F letter grade when it comes to their own financial literacy and money management skills.

The following infographic takes a closer look at what areas of finance Americans could use a little lesson on.


Read more: http://www.mint.com/blog/trends/mak...ailing-financial-literacy-0413/#ixzz2REovInt3

 

[Mathematician]

Financial woos can be stressful. The infographic might help to reduce some stress.

That sounds about what I would grade most people at with respect to managing even just their personal finances. On average, people suck at math and planning, quite generally speaking. This is one reason I wish they'd require financial disclosure to receive government handouts. Using commutativity and associativity of addition,
(a-x)+(b-y)=(a-y)+(b-x),
which show that handouts for those who waste some money they earn is equivalent to giving someone responsible some tax dollars to waste.

 

[MaggieD]

Financial woos can be stressful. The infographic might help to reduce some stress.

I don't think that graphic shows people are less financially competent. It shows that people don't have enough money to save. At least it shows they know they should.

 

[rhinefire]

Because we don't teach our students about finance instead, we teach history, geography and geometry type things that most people will never use. The majority of kids come out of school witless on money so they never know how to make it and how to use what they have. "How To Manage Money" should be taught in every grade after age 10.