Financial knowledge

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How To Perform A Mid-Year Financial Wellness Check-In

Moving the financial knowledge needle in a positive direction can be a difference maker as you work to build your financial wellness foundation, but real change requires more than just knowing what to do with your money. You have to be ready to take action to improve your overall financial well-being and have the confidence

Financial Literacy Is New Website’s Goal

Following up on its 2018 SEEK program with Queens College of the City University of New York, which provided financial aid as well as supplemental academic support, TIAA has launched a nifty online and on-campus financial education program called FinSights. The online program aims to help college students (or others who want to watch) skills to attain financial

What Does It Mean to Be Knowledgeable About Your Finances?

Did you know that: 76% of millennials lack basic financial knowledge. Two-thirds of Americans don’t understand basic financial concepts. For example, they can’t compute the interest on a $20,000 loan with a 10 percent interest rate. Americans are generally overconfident in their financial knowledge, only a few could score a top grade on a financial quiz. In a survey

Is Your State Financially Savvy?

Did you know that some states are financially savvier than others?  And that's not just in terms of state budgeting practices. Some have residents who score much higher than their neighbors in terms of financial literacy and stability, according to a recent survey conducted by WalletHub.  WalletHub used 15 different metrics to measure the financial skills

To Budget Better, The First Step Is To Admit What You Don’t Know

Today, Millennials are increasingly negotiating salaries, paying off student loans, and paying rent or a mortgage. Some are also beginning to save for their children’s college educations. All of this makes budgeting paramount, yet the overwhelming majority of Millennials fall short when it comes to financial literacy. In a study conducted by the National Endowment for Financial Education and

Banks are increasingly using software to decide who will get a loan

AMHERST, Mass. – Today, banks are increasingly using software to decide who will get a loan, courts to judge who should be denied bail, and hospitals to choose treatments for patients. These uses of software make it critical that the software does not discriminate against groups or individuals, say computer science researchers at the University

2017-08-21T11:19:24-05:00Tags: |

How The Financial Landscape Disadvantaged Millennials — And How We’re Helping Ourselves

Before knowing if we’d grow up to be journalists or engineers, we all learned to write essays and add fractions. We would for certain grow up to pay taxes and build credit, yet few learned to read financial forms and phrases. Now as adults, 57% of us struggle with financial literacy—and it’s not our fault. We grew

Talking about financial literacy is more than just an ‘adult’ matter

Money should not be a taboo topic within your family. On the contrary, it is probably wise if you have an open communication with your loved ones, including your children. When we were younger, many of us often received the advice “If you study hard, attend college and get a job, you should get a decent

How Much Financial Knowledge Do People Acquire as They Age? Not Much.

Americans’ knowledge of personal finance is low even among people who have already made many important and fundamental financial decisions, says WSJ Wealth Expert Annamaria Lusardi of George Washington University. People often argue that financial knowledge can be acquired with experience. But if the evidence from a new survey index is any indication, that way

How Financial Knowledge Drives Wealth Inequality

What differentiates the financial success stories from the others turns out to be exposure--in school or the workplace--to financial education, says WSJ Wealth Expert Olivia Mitchell of the Wharton School. Financial knowledge plays a crucial role in shaping wealth inequality, according to a new study that my co-authors and I just published in the Journal