For an astonishing number of Americans, learning about money management from a financial adviser is even less enjoyable than pulling teeth.
A new study conducted by Springleaf Financial, a financial advising firm based in Evansville, NC, shows that 17% of Americans — nearly one in five — would rather seek out general dentistry services from their family dentist than take a look at their own finances.
It’s common knowledge that many people dread going to their general family dentistry practice. The idea of sitting under bright lights with metal picks and drills in one’s mouth is far from enjoyable for some. In reality, most dental visits are far from painful — and in fact, regular checkups help to avoid more painful problems down the road. But many Americans still believe that dentistry is typically a painful experience.
So the fact that many Americans prefer general dentistry services to a meeting with their financial adviser is telling. According to a Nov. 18 Main Street article, the likely reason is because a large number of Americans are in denial about the state of their finances, and prefer to avoid facing their financial reality as much as possible.
Springleaf Financial’s study found that a shocking number of Americans struggle to get by from paycheck to paycheck.
Nearly half the population — 43% — say they can’t go more than a month without a paycheck, signalling widespread financial insecurity. The study found that this applies across education levels; about 27% of Americans holding a graduate degree also reported not being able to survive for more than a month without getting a paycheck.
Knowing this, it isn’t really that surprising that so many people would rather find dentists to pick at their teeth for an hour than sit down with a financial adviser to talk about successful money management.
Still, it’s definitely not a bad idea to confront the realities of your financial situation and strive to improve your spending and saving habits — just as it’s essential to maintain good dental hygiene.
What are your thoughts or reactions to this study’s findings? Would you rather undergo general dentistry services from an affordable dentist than see a financial adviser? Share with us in the comments below!