FREE NEWSLETTER
I found this financial literacy quiz this morning. It comes from the Stanford Center on Longevity. According to the site, only 29% of American adults can correctly answer the three questions in the quiz.
I’m guessing most HumbleDollar readers will Score 100%. I did.
The answer to the first question may be affected by taxes. The answer to the second question might be affected by productivity or other efficiencies for some products. But the answer to the third one is solid, IMHO.
Thank you for posting this quiz. It is very useful.
But I wonder how much the quiz relates directly to our behaviors. As math problems, at age 16 I would have answered all these questions correctly as they are precisely the type covered in the SAT prep class, but it wasn’t until 5 or more years later that I understood in a visceral way how inflation was degrading the money I had. And it wasn’t for another 5 years that I read Jonathan’s column regularly and began to become an index fund convert.
Whenever there’s a test or question that’s supposedly easy, I always worry that I’m going to accidentally click the wrong button or rush and interpret the question opposite of what’s intended.
An article flowed across my screen. “Gen Z is signing up for ‘Adulting 101’ classes – because they can’t handle basic life skills: ‘A lot of stuff involves money’.”
Well, perhaps there is some hope. The oldest in that group will be 28 this year.
Nice work and great idea. I want to try it out on my children and grandchildren. It will be very interesting. Thanks. I did take the test, and happy to report, 3 for 3! But I am 78.