40:45 minutes (19.56 MB)
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A recent UCONN poll shows that while 67% of Americans believe they had a high level of “financial literacy”, more than half of them weren’t able to answer basic questions regarding financial issues.
Yesterday the senate voted to prohibit credit card companies from arbitrarily raising an individual’s interest rate and charging excessive fees….the House could vote as soon as today.
The average American has three credit cards, and in these troubling economic times more and more people are relying on this credit to get by. The new legislation is a small step towards regulating the complicated and bureaucratic system. But who knows the interest rates on all their cards – and who keeps track of their credit score?
Coming up, we’ll tackle the recent changes in the credit industry, saving for retirement, budgeting, and more. Do you consider yourself financially literate? Join the conversation.