‚??The college educated are more likely to own stocks and less prone to use high-cost borrowing.‚?Ě — Journal of Economic Literature
Financial literacy is important, but sadly, only a handful of states require students to take personal finance or an investment course. I earned a Ph. D. in economics and never took a class in accounting, business or personal finance!
How bad is financial education in this country?
In 2008, two economists came up with three simple questions to test the financial knowledge of citizens 55 years or older. See how well you do:
Take the test and see the results of different countries at Eagle Daily Investor.