Contact Us
Make My Homepage

Many lack financial skills, confidence: poll

A new survey measuring Americans’ ability to manage money finds that many lack the skills and confidence to handle personal finance.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Piggy Bank Savings
ThinkStock

The survey comes from the National Foundation for Credit Counseling and shows less than 1 in 10 feel confident about money management. Furthermore, 1 in 4 wish they didn’t even have to deal with their finances, according to Foundation spokesperson Gail Cunningham.

“It may be a bad attitude, or it may be a realistic assessment of their financial skills,” she said.

Cunningham thinks there is a common misconception about credit and financial counseling: that it costs too much. She said her nonprofit foundation has 100 members and 600 locations that offer free or low-cost financial counseling.

Many of us learn financial habits from our parents, but if Mom and Dad are bad examples, we learn bad habits.

“What’s disconcerting is that they (the children) don’t reach out for help,” Cunningham said, adding that many mistakenly believe they are the only ones with poor money skills. That’s far from accurate, however, as less than half of U.S. states require the completion of a personal finance course as a prerequisite for high school graduation.

You can get more information from the National Foundation for Credit Counseling at www.nfcc.org.

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!