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One in Four Americans Financially Illiterate
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HoweStreetOne in Four Americans Financially Illiterate
by Martin Armstrong Armstrong Economics Financial literacy is steadily declining in America. The percentage of US adults demonstrating a very low level of financial literacy increased from 20% in 2017 to 25% in 2023. Around 58% of Americans know about debt and borrowing. Over half (55%) understand saving, and 50% understand consumption. About 42% understand insurance, 44% know about investing, and only 35% know about risk comprehension. Financia…
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