The struggle in the United States with basic financial literacy was revealed when GoBankingRates surveyed over 500 people about money, loans, and credit. The terms in question included 401(k)’s, Certificates of Deposits, Net Worth, Home Equity Line of Credit, Credit Scores, and Credit Bureaus.

With each term, a percentage of survey respondents who answered correctly, as well as the definitions are located. The results are very surprising as a strong majority of respondents did not know the financial terms. If you are interested to see how you compare with these respondents, as well as the definitions of many useful financial terms, please check out the full blog here:

http://www.cheatsheet.com/money-career/1-in-3-americans-dont-know-these-personal-finance-terms.html/?a=viewall