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             Study: Two Out of Three Adults Financially Illiterate

   by VOA News

   Two out of three adults worldwide are financially illiterate, according
   to a report published Wednesday.

   The 2014 Gallup survey of 150,000 people in 148 nations asked people to
   answer questions about risk, inflation, and compound interest.

   Researchers from the World Bank and Georgetown University analyzed the
   data, and found most people got at least half the answers wrong. Men
   generally got slightly better test scores than women.

   Respondents in Scandinavian nations were the best in the world with
   around seven out of ten people getting mostly correct answers. At the
   bottom of the list came Yemen, Albania, and Afghanistan where only
   about one in seven people passed the test.

   Residents of the United States scored an unimpressive 14th place in the
   rankings, with 57 percent of people passing the brief exam. Compound
   interest was the topic that caused the most problems for Americans.

   Study authors describe it as the largest and most comprehensive global
   measure of financial literacy to date.

   Financial skills make a practical difference in peoples' lives,
   according to a separate study by the University of Kansas. It shows
   knowledgeable people are far more likely to save for emergencies and
   less likely to be carrying a burdensome level of debt.
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   [1]http://www.voanews.com/content/study-financial-illiteracy/3063560.ht
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References

   1. http://www.voanews.com/content/study-financial-illiteracy/3063560.html