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Millennials Overconfident & Underprepared in Managing Money

A study finds millennials are overconfident in life and that puts them in a fragile financial position.

By Peter Strozniak | Updated on February 10, 2017

Millennials are overconfident and underprepared for managing their money, according to new research from the Denver-based National Endowment for Financial Education.

Only 24% of the millennial respondents (23-to-35-year-olds) showed basic financial literacy in the study while only 8% demonstrated a high level of knowledge. That may not be all surprising considering that only 22% of millennials have received some form of financial education, the NEFE study found.

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Peter Strozniak

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