Read at New York Post
A study by Fidelity Investment found that 54% of those surveyed feel overwhelmed by their personal finances, and 31% say their relationship with money is stressful. Additionally, over one-third of Americans say they're in worse financial shape than last year.
Fidelity Investment's 2024 New Year's Resolutions Study found that more than half of those surveyed (54%) admit to feeling overwhelmed by their personal finances, and nearly a third (31%) say their relationship with money can be best labeled as "stressful." Additionally, over one-third of Americans say they're in worse financial shape than last year, and two-thirds of respondents were considering a financial resolution for 2024.
Staying updated on changes in the financial space is important because money affects everyone. Being knowledgeable about personal finances can help make better decisions related to investments, retirement savings, and other financial matters.
"You might not care about money ... but it cares about you," Moynihan told us, adding that everyone has to deal with money no matter if they're rich or poor. "The more you know about [your personal finances] - whether it's putting money in your 401K or financing a home - the better equipped you will be to make decisions." "Some publications and channels will assume a base level of knowledge that many of us don't have," Moynihan continued. "But educating yourself on some of the fundamentals, like the impact of interest rates, will get you up to speed so you can follow along even when you see financial jargon."