Millennials Have Inadequate Financial Knowledge. Among the overall adult population, Millennials are the age group with the lowest level of financial literacy. • Only 24% demonstrated basic financial literacy
• Only 8% demonstrated high financial literacy When tested about basic concepts around personal financial management and credit, they tend to fall flat. Lack of financial knowledge may jeopardize Millennials' financial success.
Millennials, the generation of Americans born between the early '80s and the mid-90s, are exceptional in many ways. They are better educated than their predecessors, more ethnically diverse, and more economically active. They confront greater difficulties - including economic uncertainty, student debt - than those who came before them. The challenges are even greater for Black and Hispanic Millennials. As a generation carrying new personal financial responsibility, it is crit