Survey Says: Personal Finance Knowledge Gaps Are Leading to Costly Mistakes
EXPERIAN PLC S/ADR (EXPGY)
NASDAQ:AMEX Investor Relations:
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Source: Business Wire
New Experian® research underscores the need for improved financial education as younger consumers bear the brunt of costly financial errors COSTA MESA, Calif.--(BUSINESS WIRE)--Lack of financial knowledge is leading to costly financial missteps for many Americans according to new research1 released today by Experian®. A survey of 2,000 adults across the U.S. revealed 3 in 5 adults feel their limited understanding of credit and personal finance has led them to make financial mistakes, with 60% of this group stating these mistakes have cost them $1,000 or more.This trend is particularly apparent among younger groups with 71% of Gen Zers and 70% of millennials claiming their inadequate knowledge of credit and personal finance has come at a price. Twenty-nine percent of Gen Zers and 38% of millennials report these financial mistakes have cost $5,000 or more.Experian's research also highlights the gap between the desire for financial education and its availability in schools. While 78%
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