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The State of the American Consumer
The Financial Industry Regulatory Authority (FINRA) surveyed nearly 1,500 American adults, and found that nearly half of respondents have difficulty covering monthly expenses and paying bills. Of these, 14% said it was very difficult to keep their noses above water, and 35% said it was somewhat difficult.
Finally, when it comes to financial literacy, 37% thought their financial knowledge was at the top of the scale. However, only 30% were able to correctly answer a basic question about interest rates and inflation, plus a question about risk and diversification.
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