Most Millennials Financially Illiterate, Survey Says

Don’t worry so much about millennials: They’re probably worried enough about themselves.

The millennial generation, aged 18-34, has the skills and education to overcome a widespread lack of financial literacy, according to a recent report sponsored by Chicago-based BMO Wealth Management titled “Generation Why!”

In a study of more than 1,000 millennials, only 24 percent could demonstrate basic financial literacy, and just 8 percent displayed high levels of financial literacy. Yet BMO believes that, as the most educated generation to emerge into the workforce, and as digital natives comfortable with self-driven research, millennials will be able to increase their financial knowledge.

Many millennials acknowledge their lack of financial literacy, with men more aware of their shortcomings than women.

from FA News http://www.fa-mag.com/news/most-millennials-are–still–financially-illiterate-33744.html

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s