One of the best parts about my business is working closely with clients to help them gain greater clarity and control in their financial plan. Over the past 27 years, I have worked with hundreds of highly intelligent, accomplished, and talented individuals. However, I’m often surprised by the lack of financial literacy among even the most successful people.
In my work as academic, I have come across study after study confirming that most Americans – including the well-educated, affluent and financially successful -- score poorly on financial questionnaires. Since financial literacy is a cornerstone of good financial decision making, this is deeply troubling. Even more troublesome is that women tend to have lower scores than men, which further increases their financial risk.
I believe the heart of the problem is that financial knowledge has not been packaged or communicated in ways that are easily understood or personally meaningful. As a result, I am passionate about helping clients better understand the financial issues that affect them, what their alternatives are and how to make smart money choices.
With that in mind, I thought it would be fun to share this short Money Smarts Quiz. Test your money smarts, then review detailed answers to see how you measure up.
Ready? Here we go! Take quiz here.