3 basic financial questions that surprisingly stump most Americans

Try this financial literacy quiz designed by economists from Wharton and George Washington. These economists have been offering up this 3-question quiz (dubbed the “Big Three”) for years.

To get an understanding of how woefully uneducated the masses are when it comes to money, these economists have been asking these three basic financial questions — very basic — for years, and the results have been rather startling.

Be forewarned, before you try your hand at it, here’s how others have fared: According to a working paper published last year, only half of Americans over the age of 50 answered at least two of the three questions correctly. Less than a third got them all right.

[interaction id=”5741b602daff949d31278791″]

 

If you are interested, here are their results in various countries, by education level:

USA


Netherlands


Switzerland


Germany

 

 

Photo by AndreasPoike

Add Comment