Jul 12, 2016 · Beyond financial literacy, the study found that many Americans have recovered from the financial crisis. Respondents to the survey who reported no Author: Madeline Farber. Looking at the financial education statistics it is obvious to me that a lot of people are suffering due to financial illiteracy. The financial literacy statistics clearly show a lack of even the most basic knowledge. Many people wonder why so many are suffering from money problems. Financial literacy test results are a crystal ball into the.
Financial illiteracy is more common among low-income individuals because they typically do not have wide access to accurate financial information. With such illiteracy, youth in low-income households can fall victim later as adults to scams, high-interest rate loans, and increasing debt. Nov 01, 2016 · If you are reading this, then by definition you don’t have a problem that more than 20 percent of the adults in the nation’s capital struggle with every day: illiteracy. The inability to read Author: Valerie Strauss.