How does your Financial Literacy compare?

To test people’s financial literacy, a recent survey used the ‘Big Three’ financial literacy questions developed by Drs. Annamaria Lusardi and Olivia S. Mitchell.

The survey found that just 30% of people surveyed across 15 counties got all three answers correct.  In Australia only 28% got all three correct.

I thought it would be interesting to see how your own financial literacy stacks up by getting you to answer the same three questions (as shown in the image copied from The Aegon Retirement Readiness Survey 2018).

The answers are at the bottom of this page.

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The answers

Question 1 – More than $102

Question 2 – Less than today

Question 3 – False

How did you go?  Are you in the:

• 11% who got none correct?
• 24% who got one correct?
• 35% who got two correct?
• 30% who got them all correct?

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Do you and your family a favour and start taking steps so you can improve the health of Your Wealth and get off the treadmill of working till you drop.

Wayne Wanders

The Wealth Navigator

wayne@thewealthnavigator.com.au

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