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The No. 1 Personal Finance Lesson to Take Away from the Coronavirus
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The No. 1 Personal Finance Lesson to Take Away from the Coronavirus

Eric Rosenbaum
CNBC, 2020
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Editorial Rating

7

Qualities

  • Analytical
  • Overview
  • Hot Topic

Recommendation

The 2020 annual study by the TIAA Institute and the Global Financial Literacy Excellence Center reveals that Americans continue to receive a “failing grade” in financial literacy. According to this timely article from CNBC editor Eric Rosenbaum, the survey underscores the need for greater financial education, starting at a young age. As the negative economic effects of the coronavirus pandemic continue to unfold, it’s now become more important than ever that many more Americans acquire proper money management skills.

Take-Aways

  • Many Americans assess risk more poorly than they do any other aspect of their financial lives.
  • While financial knowledge is increasing, most Americans still can’t answer much more than 50% of basic finance-related questions correctly.
  • Some 33% of Americans are barely meeting their financial needs, and many lack savings to handle an emergency or sudden unemployment. 

About the Author

Eric Rosenbaum is an editor at CNBC, specializing in financial and business journalism.

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