Rich? Yes. Financially literate? Not so much

[zinger1457]

If we're so stupid, why aren't we poor?

Not poor as a country put the % of people in poverty in the US is higher than many of the other industrialized countries.

 

[marko]

Not poor as a country put the % of people in poverty in the US is higher than many of the other industrialized countries.

My "if we're so stupid...." was meant to be about the folks here on his forum, not rich as a country.

Having said that, financial illiteracy and poverty go hand in hand.

But I'd settle for reading literacy as a start; not sure we even have a good handle on that.

 

[Theseus]

My "if we're so stupid...." was meant to be about the folks here on his forum, not rich as a country.

Having said that, financial illiteracy and poverty go hand in hand.

But I'd settle for reading literacy as a start; not sure we even have a good handle on that.

Looking at the results tabulated by country of a few of the other "tests" at Try the test - OECD brings to my warped mind a tongue twisting play on the old "How much wood would a woodchuck..." rhyme (scores for problem solving, financial, and mathematics testing of students in Shanghai is much, much higher than in the US).

• How many burgers would Phil need to flip if flipping burgers was Phil's only source of income to buy an Iphone?
  
• How many Iphones must Zhang's employees assemble per hour if Zhang's Iphone assembly factory is the only source of income for Zhang's family?

 

[unclemick]

I actually flunked my first written driver license exam because of a (in my view) strangely worded question.

Basically it went like this: On an intersection before proceeding:

• I must pay attention
• Everyone must pay attention
• Everyone except you must pay attention

I chose option 1 because I can't influence other people's behavior, let alone check whether they actually are paying attention.

Correct answer was number 2, because that's what it said in textbook.

Tongue in cheek wise I can select option 3 because I hung out with Vanguard enough decades for them to come out with full auto life cycle type funds so I don't have to look anymore since 2006.

heh heh heh - a few good stocks for the male hormones during football season since it's been painful to watch the Saint's and I'm reluctant to switch to the Chief's.

 

[jkern]

Passed. The questions should be taken at a very simple face value. Don't read too much into them. This should be called a simple math test and not a financial test.

 

[marko]

This should be called a simple math test and not a financial test.

Then the results and our ranking should be even more disturbing (but not surprising).

 

[Car-Guy]

Simple to get 5 out of 5 on this one. Just another common sense "numbers" test IMO.

numbers isn't hard

 

[marko]

Simple to get 5 out of 5 on this one. Just another common sense "numbers" test IMO.

numbers isn't hard

The chart would suggest that a whole bunch of people in the US would strongly disagree.

But hey, that's not fair. Let's ask them questions that are really important, like the first names of all the Kardashians.

 

[Car-Guy]

The chart would suggest that a whole bunch of people in the US would strongly disagree.

But hey, that's not fair. Let's ask them questions that are really important, like the first names of all the Kardashians.

I asked the DW to take the "numbers test". You would think after almost 40 years of marriage I'd know better than that. So much for my common sense in dealing with women. Numbers are sooooo much easier.

And it it wasn't for Bruce (or Catilyn) I would not know who the "Kardashians" are.

 

[Walt34]

But hey, that's not fair. Let's ask them questions that are really important, like the first names of all the Kardashians.

That one I would fail. Don't have a clue.

 

[UpAnchor]

That one I would fail. Don't have a clue.

Neither do I. Nor do I know how many there are. And while I've heard that one or more are women, I've no clue as to gender beyond that. Since they are nicely absent from any of the TV channels we have access to, my sole source of knowledge (beyond this board) is via peripheral vision in the checkout isle. Another reason to shop when lines are at their shortest.