Monday, July 15, 2019

How Are Your Money Smarts?

Every three years since 2009 the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation commissions a study to find out how knowledgeable American adults are about financial issues. The 2018 study revealed that only 34 percent could answer at least four out of five financial-literacy questions. (The percentage has gone down each time. In 2009 it was 42 percent.)

I was curious about how I would do, so I took the five-question (which also included one bonus question) Financial Literacy Quiz test on the FINRA website. The questions were about inflation, risk, mortgages, bond prices and interest rates. I guess I'm relatively knowledgeable, because I got all of them right. The national average was three, and my state was incrementally less than that.


How do you think you would do?

Five years ago today: Working From (Someone Else's) Home
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8 comments:

  1. BootsandBraidsJuly 15, 2019 at 9:19 PM

    I have every confidence I'd not get one single question correct because I know nothing about inflation, risk etc. I use to get financial statements all the time, didn't understand a word and just trying to understand made my head hurt.

    ReplyDelete
  2. Victor S E MoubarakJuly 16, 2019 at 4:00 AM

    Well done - 6 out of 6 right.

    God bless.

    ReplyDelete
  3. coach-daddyJuly 16, 2019 at 2:17 PM

    That'd be a tough one for me to pass! Especially with a limited number of questions. Now, give me a quiz about football or burritos ...

    ReplyDelete
    Replies
    1. Kathy GJuly 16, 2019 at 4:23 PM

      HA! I think you'd be surprised how much you know.

      Delete
  4. Joanne NoragonJuly 16, 2019 at 7:30 PM

    I took this recently and scored 6 of 6, too. Actually, more of us should take it and learn we understand more than we think we do. Just think how much of it we've lived through, going no farther back than Clinton and the dot.com bubble. Oh, what the heck, start with Reagan and trickle down. All these years, no trickle.

    ReplyDelete
  5. Karen @BakingInATornado.comJuly 16, 2019 at 9:23 PM

    I think I'd do pretty well, but then my husband is a Financial Advisor.

    ReplyDelete

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