A global financial literacy test finds that just 57% of adults in U.S. are financially literate

first_img 35SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Can you explain what risk diversification is? Identify the effects of inflation? Know how to calculate interest? If you answered yes to these three questions, you are better off than 43% of Americans and a whopping two-thirds of the world’s population.According to the first-ever S&P Global FinLit Survey, a detailed and comprehensive analysis of worldwide financial literacy by the World Bank, Gallup, and George Washington University, just one-third of the world’s population is financially literate. On a country-by-country basis, Norway, Denmark and Sweden tied for first place, with 71% of their populations ranking as financially literate. At the bottom of the spectrum was Yemen — just 13% of the Yemeni population was deemed financially literate by the S&P survey.The U.S., meanwhile, ranked a less-than-impressive 14th in the world, with 57% of Americans passing the test set before them. continue reading »last_img read more