It seems so simple. Follow a budget. Don’t run up your credit cards. Keep an eye on your credit score. Most importantly, consider the long-term consequences of every financial decision. It’s a recipe for financial success. And yet, most Americans struggle with their finances.

In this episode of The Digital Banking Podcast, host Josh DeTar welcomed Sid Ratkiewicz, a behavioral researcher at the Center for Advanced Hindsight at Duke University, and Matt Iverson-Comelo, CEO and Founder of Moneymap. The three of them discussed the importance of financial education and literacy, the consequences of the lack of financial knowledge, and how community financial institutions can be most helpful.