Clueless on managing your money? Do you wonder where your money goes each month? You’re not alone!
One recent study asked 1,000 Americans over the age of 30 about finances and less than half could explain what a 401(k) is or had working knowledge of interest, bankruptcy and how inflation works. More than half of those in the study, 55 percent, said that they felt lost when it comes to creating a long-term and stable financial plan. Only 30 percent said they had made a proper financial plan with their income using a budget. Merely 13 percent had a five-year plan for their finances.