Photo by New research shows that one in five people would rate their ability to save money as “fair” or “poor.”
A survey of 2,000 employed men and women looked at the differences in how they save for the future and found that men are more likely than women to rate their money-saving abilities as higher than average (55% vs. 39%).
And, even though their confidence in their saving abilities varies, half also said they would take financial advice equally as seriously coming from a woman as a man.
Generally, people would be motivated to learn about their finances to secure their future (62%), maximize the value of the money they already have (60%) and not have to rely on someone else (54%).
Conducted by OnePoll for BOK Financial, the survey found that the average person started saving money at around 24 years old and learned how to best manage their finances from their parents as children (23%) and putting their skills to the test when they first started living on their own (22%).
And they’d advise others to start even earlier — from the first time they receive an allowance or monetary gifts as a child (32%) and once they have a job that produces income (24%).
