Financial literacy summit wraps up in Chicago
Tuesday, April 24, 2012
Visa, along with the Federal Reserve Bank of Chicago, recently met for their annual summit on financial literacy and found the United States ranks fourth out of 28 nations in financial education.
The Financial Literacy Barometer, which evaluated and ranked the financial literacy levels of people in 28 countries, also found that Brazil ranks first in terms of financial education. The event was moderated by Janet Bodnar, editor of Kiplinger's Personal Finance Magazine and was the sixth annual meeting of the groups.
"The public-private partnership between the Federal Reserve Bank of Chicago and Visa in hosting this summit is a model on how we can improve financial literacy in the United States and around the world," said Charles Evans, president and CEO, Federal Reserve Bank of Chicago.
Results of the survey found that 25 percent of respondents who report they don't have adequate funds to cover personal economic emergencies are in high income categories.
An individual's financial health and credit standing could go a long way when it comes to finding a job. A recent report from Fox Business reveals that some employers are checking the credit scores of prospective job applicants and denying job-qualified individuals based on unsatisfactory scores.
Individuals with expendable income may be able to improve their financial standings by taking part in online investment opportunities.
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