Date: Jan 21, 2011 4:07 AM Author: patricia Subject: Re: What the the most common finanical misunderstandings? I'm adding a comment to 'fiscal responsibility'. I've noticed that youths and adults seem to understand the concept of having a safety nest and can more or less figure out how much to plan for but the will is hindered by our culture's need to have 'it all' now versus planning a bit for later. What I've noticed more is their inability to factor in everything they need in order to maintain whatever standard of living they choose. As far as identifying the benefits or downfalls - interest rates and compounded rates are definitely a problem.