Financial Confidence vs Reality: A Growing Gap

Despite many Americans confidence in their financial acumen, a recent study reveals a concerning trend of risky financial behaviors. Two-thirds of Americans believe they have a high level of financial knowledge, yet theres a growing number of people carrying credit card balances and making minimum payments. Fifty-nine percent of credit card holders have made at least one financial mistake leading to higher interest or fees. Experts warn that overconfidence can lead to unnecessary risks, and warning signs include increasing debt levels and a decrease in emergency savings.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.