Financial literacy gaps could be costing you more than you think.
Asked to put a dollar figure on how much money they have lost in their lifetime due to personal finance missteps, nearly 25 percent of consumers estimated the cost at $30,000 or more, according to a new survey from the National Financial Educators Council. (The group polled 3,006 adults in mid-March.) More than a third put their losses at $999 or less.
Not surprisingly, the youngest cohort — consumers age 18 to 24 — were most likely to attach a low dollar figure to their lifetime losses, with 42 percent saying they'd lost $999 or less, and another 23 percent estimating a cost of $1,000 to $4,999. They were also less likely than older respondents to say they had lost more than $30,000. (See chart below for a breakdown by age.)