U.S. ↔ financial literacy

Relations (1)

cross_type 2.00 — strongly supporting 3 facts

The U.S. is the geographic context for studies and observations regarding financial literacy, specifically concerning racial disparities [1], its role in driving consumer debt [2], and the general inadequacy of consumer financial decision-making capabilities [3].

Facts (3)

Sources

Data Analysis on Credit Card Debt: Rate of Consumption and Impact ... arxiv.org arXiv 1 fact

claimCredit card debt in the United States is driven by economic factors, consumerism, high healthcare costs, and financial illiteracy.

Financial Literacy: The Guide to Managing Your Money - Annuity.org annuity.org Annuity.org 1 fact

claimThere is a significant racial gap in financial literacy in the United States, with African Americans scoring substantially lower than white Americans.

Understanding Behavioral Aspects of Financial Planning and Investing financialplanningassociation.org Financial Planning Association 1 fact

referenceFinke and Huston (2014) concluded that financial literacy in the United States is too low to expect consumers to make effective financial decisions within complex product markets.