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We have all blamed a lot of different people and groups for the financial crisis we face today. However, as we’ve surely been told at one time in our lives, “When you point a finger, three point back at you.” The attached article from Fox Business shows that our collective understanding of even simple financial topics leaves a lot to be desired.
The fact that over half of the people surveyed thought investing in one stock instead of many stocks through a mutual fund is, to be blunt, disturbing. It shows that we need to teach personal finance at the elementary, high school, and university levels. Knowledge is power, and many of us are not very powerful when it comes to understanding basic personal finance.
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