Local News

News > Local News > Survey Shows Americans Lacking in Financial Literacy

Survey Shows Americans Lacking in Financial Literacy

A new Bankrate survey shows Americans - especially millennials - prefer to sit on cash as their main method for long term investing. 

The survey shows 40% of young Americans prefer cash and Americans overall choose it over the stock market or real estate.  Financial analysts call the trend disturbing given the importance of investing for retirement. Fifth-Third Bank Spokesman David Hosick says they're attempting to boost financial literacy with their 10th annual Financial Empowerment Mobile eBus. 

The bus is traveling to Terre Haute, Columbus, Bloomington, Lafayette, Indianapolis and Fort Wayne this month.  Hosick says they partner with community organizations in an effort to reach underserved communities.  Bankers counsel people on proper investing, credit, homeownership, budgets and foreclosure prevention. 

Hosick says Fifth-Third Bank actually has two e-buses that have traveled nationwide and visited 150 cities in an effort to boost financial literacy.

Other Articles You May Like

INDIANAPOLIS - Indianapolis has seen a spike in crime during July, with dozens of assaults reported every day and...
INDIANAPOLIS, Ind. A man broke into an Indianapolis home about 5:30 Wednesday morning and attempted to molest a...
Congressional challenger Kevin Grant (R-4th) (WIBC.com photo: Committee to Elect Kevin J. Grant) U.S...
Former House Speaker John Gregg (D, right) greets Lt. Gov. Eric Holcomb (R). (WIBC.com photo: Abdul-Hakim Shabazz...
INDIANAPOLIS, Ind. -- The union bargaining committee for the Carrier workers have agreed to a deal with the...