1 in 3 Americans Don't Know These Super Basic Finance Terms

Respondents were asked the following questions and given multiple answer choices:

• Which of the following describes a 401k?
• What does a CD offered by a bank stand for?
• What is net worth?
• What does HELOC stand for?
• Which of the following does not impact your credit score?
• What are the 3 major credit bureaus?

Answer Insights:

• Nearly half of survey respondents 65 and older do not know what impacts a credit score
• 58 percent of those aged 18-24 do not know what a 401k is
• More than a fifth of Americans believe a "HELOC is not a real thing."
• 16 percent of Americans incorrectly believe that networth is your "Income after taxes."
• Less than a third of respondents aged 18-24 know the 3 major credit bureaus

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