New survey reveals many lack financial literacy - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

New survey reveals many lack financial literacy

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(MyFoxBoston.com) -- Just about half of Americans feel secure in their personal finances, according to a new survey.

A study commissioned by coupon savings website RetailMeNot.com examined both saving and spending behaviors among consumers, as well as their lack of understanding of their own finances.

According to the website's editors, a lack of financial literacy is the cause that just 51 percent of Americans feel secure in their personal finances, and 48 percent of survey respondents felt they did not have enough money in savings to last more than a month, if all sources of income stopped.

Additionally, 20 percent of respondents said they had no savings at all.

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