Based on an online survey of personal finance knowledge, 40 percent of Americans earn a grade of C or worse. Financially literate people possess a fundamental understanding of money management activities, and are able to apply them for their financial well being.
The Wallet Literacy survey is available to assess your financial literacy. This test covers a wide range of topics, including credit scores, paycheck deductions, emergency funds, car insurance, home buying, inflation, and investment risk. Respondents are encouraged to use a calculator and other resources when taking the survey.
For additional information on the financial literacy survey, click here.
Teaching Suggestions
- Have students take the financial literacy survey to determine the areas where additional learning is needed.
- Have students encourage others to take the survey, and then have students talk with them about their results.
Discussion Questions
- What items on the survey are topic areas for which most people need additional learning?
- How might people be encouraged to learning more about various personal finance topics?
Melissa Hart
Focus on Personal Finance, 7e 