Blacknbengal
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Despite an economy that has most Americans worried, a survey for MSN Money and the National Foundation for Credit Counseling finds that few have the resources or the basic financial skills to cope.
Barely half of Generation Y pays its bills on time and a third of all adults don't know their credit scores, a financial survey released Tuesday has found.
The joint survey of 1,001 Americans, conducted by Princeton Survey Research Associates International for the National Foundation for Credit Counseling and MSN Money, found an America largely unprepared for economic hard times.
"If there were ever a time that Americans needed to embrace financial literacy, it is now," said Susan C. Keating, president and CEO of the nonprofit counseling agency.
With many economists suggesting that the United States either is in a recession or is facing one, basic financial skills would help consumers stay afloat, says MSN Money Editor in Chief Richard Jenkins.
"Learning to manage money is like any other skill," Jenkins said. "You've got to take the time to learn the basics and then practice, practice, practice."
Rest of story
Barely half of Generation Y pays its bills on time and a third of all adults don't know their credit scores, a financial survey released Tuesday has found.
The joint survey of 1,001 Americans, conducted by Princeton Survey Research Associates International for the National Foundation for Credit Counseling and MSN Money, found an America largely unprepared for economic hard times.
"If there were ever a time that Americans needed to embrace financial literacy, it is now," said Susan C. Keating, president and CEO of the nonprofit counseling agency.
With many economists suggesting that the United States either is in a recession or is facing one, basic financial skills would help consumers stay afloat, says MSN Money Editor in Chief Richard Jenkins.
"Learning to manage money is like any other skill," Jenkins said. "You've got to take the time to learn the basics and then practice, practice, practice."
Rest of story