RICHMOND, Va. (WWBT) - Oh Google! While doctors hate when people self diagnosis, it appears more and more of us are using Google to seek out financial advice.
According to a new survey by Lexington Law, one in three Americans admit to major financial decisions based on Google research. Less than a quarter actually consult a financial professional. And those Millennials were the least likely to ask advice from a real person.
Only 16% ask for financial advice from good old mom and dad.
What this says is that a lot of Americans either aren’t willing or just don’t think they can afford financial advice from professionals. But we all need to be extra careful of what we are reading online.
Many local experts say we need to make sure our children get a sound financial education. Teaching them to have an emergency fund and how to follow a budget, or the risk and rewards of credit cards, will only keep future generations out of financial trouble.
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