Los Angeles Times
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At a time when the world of personal finance is increasingly complex - and when people are more responsible than ever for their own financial future - Americans' understanding of basic concepts is sorely lacking. Despite many efforts to boost ...
This was all I could quote. If you want to read more please click on word button.
Yes. I agree with this article. For example, the first day we heard about the 40 million card numbers being stolen from Target my wife and I went to our bank and had her card number changed immediately to a new one. People less knowledgeable might have had a bank that didn't want them to change card numbers. So, if they didn't change card numbers on the spot during Christmas and they haven't changed their pin numbers (if they didn't change their card numbers) then if money starts leaving their accounts they obviously aren't really thinking this whole thing through. So, this is only the tip of the iceberg in regard to people not understanding how ATM cards, Pin Numbers and Credit Cards actually work worldwide. How can you protect people who don't take enough time to understand even basic stuff like this?
I think one possibly useful reaction to all this is more people carrying cash and spending cash and not relying on ATM cards to be safe different places. However, carrying a lot of cash might also be problematic for some people too.
I think one possibly useful reaction to all this is more people carrying cash and spending cash and not relying on ATM cards to be safe different places. However, carrying a lot of cash might also be problematic for some people too.
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