DETROIT, Oct. 11, 2016 /PRNewswire/ -- Minority Mindset has released a brand new video that exposes financial illiteracy in people across the country.
In the latest installment of his video series, "Exposing Financial Illiteracy", Jaspreet Singh travels to cities around the country. In New York, Chicago, and Washington, D.C., Singh asks passersby simple questions to test their financial literacy, and the results are surprising.
For instance, Singh approaches people on the street to ask, "What's worth more - a dollar today or a dollar tomorrow?"
Most people answered that a dollar tomorrow would be worth more than a dollar today, but that answer is incorrect.
Singh also goes on to ask people to define inflation, which occurs when price of things goes up and the value of money goes down. One of the first respondents, a college student, takes too long to clearly answer the question.
Each week, Singh releases new episodes of Minority Mindset with the objective of helping people increase their knowledge of finances. In "Exposing Financial Illiteracy", Singh demonstrates a chronic problem experienced by people across the United States.
"The Minority Mindset has nothing to do with the way you look, your ethnicity, or your background," explains Singh. "It's a mindset. Give the majority $200, and they will come back with a pair of shoes. Give the minority $200, and they will come back with $2,000."
When it comes to financial illiteracy across the nation, a 2016 study showed that 63% of Americans don't have enough savings to cover a $500 emergency.
The Minority Mindset YouTube channel offers free advice for people who want to learn how to be more fiscally responsible. In addition, Singh is offering his brand new e-book, Get Richer Sleeping: Investing 101, for free. Singh's book shows readers clear-cut strategies for easily increasing wealth through smart investments.
Singh hopes that his newly released video, in combination with other videos and e-book, will help people across the United States who want to become more adept in handling their finances. People can go to his YouTube channel to see more videos in the Minority Mindset series, such as "Why Inflation is Making You Poor", "Why Money Can Buy Happiness", and "Real Estate Investing 101".
"Exposing Financial Illiteracy" has received more than 10,000 views in the first week since its launch. More information can be found at http://www.theminoritymindset.com.
About Minority Mindset
Minority Mindset's host, Jaspreet Singh, offers new tips and strategies for increasing wealth and raising financial literacy with each new video at https://www.youtube.com/c/MinorityMindset.
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SOURCE Minority Mindset