90 Percent of UK Consumers Struggle with Financial Literacy

A new survey by Israel-based Bank Leumi’s challenger brand Pepper found 90 percent of UK consumers feel they are undereducated with personal finance; 47 percent say they believe the bank should help them with financial decisions and 24 percent say they have been misled by banks; 72 percent do not invest in stocks or investment funds with 20 percent saying they don’t know how to invest; a number of fintechs in the UK are trying to help consumers make better decisions by providing financial literature or making recommendations based upon spending habits; overall awareness of startups in the space is still low but companies are making headway. Business Insider

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