University of ArizonaNorton School of Family and Consumer Sciences

The Postrecession Financial Literacy of Americans Is Still Pitiful

The financial know-how of most Americans stinks, roughly five years after the global financial recession officially ended.

The majority of people still can't correctly answer five basic questions about interest rates, mortgages, bonds, inflation, and risk-taking. The financial crisis may have prompted discussions about the need to promote financial literacy, but just 14 percent of 25,000 Americans surveyed knew the answer to all five questions, according to a 2012 report on financial capability in the U.S., published by the Consumer Financial Protection Bureau, the Treasury Department, and the FINRA Investor Education Foundation. 

Read the article on National Journal

Learn more about Joyce Serido at http://cals.arizona.edu/fcs/faculty/joyce_serido

 



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