Can you pass this financial literacy test? We could all stand to learn more about how to manage our personal finances. I am not excluded, and there are still many things that I do not know.
According to the Council of Economic Education (CEE), only 23 states require high school students to take a course in personal finance.
It’s absolutely crazy that Americans are not being equipped with the proper tools needed. Most of the things I’ve learned has been through watching others and figuring out myself.
I created this website so that everyone could learn the basics of money management. I don’t want to see anyone struggling financially.
So, I’ve made this quick little financial literacy quiz to test your financial IQ. It will help you know what you need to improve on.
Table of Contents
What are financial literacy skills?
Per Wikipedia, “Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.”
With good financial education, you’ll be able to make smart decisions when handling money.
Financial literacy skills include the ability to:
- Plan finances well
- Manage debt
- Understand interest rates
- Know the basics of different loans
- Understand how investments work
Financial Literacy Test Review
This financial literacy test is for middle school students to adults. It will cover topics such as:
- Writing a check
- Credit cards
- Credit scores
- Emergency funds
- and more!
How can I improve my financial literacy?
The only way to improve your financial literacy is to take the initiative and start studying.
Aside from what I write about, you could:
- Look up other posts by other people the write about personal finance.
- Use the free resources at a library. You can check out books and you can also download e-books and audio books to your device at home.
- Take courses online or at a college. Some colleges offer free courses online.
- Listen to financial podcasts.
- Join a social media group. You’ll be able to get advice and share tips with a wide variety of people.
- Talk to a financial professional. Some banks and credit unions offer free financial advisors.
MyMoney.gov: The national financial education website
Economics & Personal Finance Resources for K-12 (EconEdLink): Free personal finance and economic lesson plans.
Gen i Revolution: An online game for middle school and high school students.