Saturday, March 3, 2012

MANY ADULTS CLUELESS ABOUT THEIR FINANCES, REPORT SUGGESTS.

Some 41% of U.S. adults grading themselves on their knowledge of personal finance would get a C, D or an F, suggest the results of a survey the National Foundation for Credit Counseling released this week. Harris Interactive conducted the telephone survey for the Silver Spring, Md.-based nonprofit organization to measure consumers' financial knowledge among 1,000 adults between March 13 and March 16. Only 42% of consumers keep close track of their spending, and 7% do not monitor their spending at all, the survey data suggest. Some 26% of respondents did not pay all of their bills on time. Some 15% reported being late making a credit card payment within the previous 12 months, …

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