It’s hard to talk about financial confidence without financial knowledge
It’s hard to talk about financial confidence without also looking at financial knowledge. How can you be confident about something if you don’t understand it?
This is the chicken/egg conversation at the heart of the relationship between people and money, as demonstrated by two recent surveys looking at how a lack of knowledge/confidence can harm your financial life (though overconfidence can also take a toll on investment performance).
First, there’s the question of knowledge. According to the findings from the 2018 TIAA Institute-GFLEC Personal Finance Index report, more men than women, on average, performed better answering questions on eight money subject areas including earning, consuming, saving, investing, borrowing/managing debt, insuring, comprehending risk and recognizing appropriate sources of information and advice.
www.forbes.com
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