Yahoo! recently highlighted a study commissioned by GuideVine that shows many Americans in their thirties are sorely lacking in knowledge when it comes to basic financial terms. The majority of people could not appropriately define common financial terms and admit the most common financial mistake is not saving enough.
MSN shares the recent study commissioned by GuideVine found a majority of the Americans 30 don't understand basic finances. This includes knowing how inflation works, how a 401k works, the importance of sticking to a budget and saving.
GuideVine was recently featured in the New York Post highlighting a study commissioned by GuideVine showing many Americans are sorely lacking knowledge in personal finance. 64 percent of respondents had never sought financial advice before, which may be because only 49 percent of people polled believe that financial advisers are trustworthy.