It’s widely agreed that people are not generally taught about money management as they grow up from children, to adolescents, and to adults. USA Today is looking at a new study from the Jump$tart Coalition for Personal Financial Literacy which tests high school students on basic financial knowledge. Here’s the survey with answers [Microsoft Word document]. That file also contains the percentage of students who answered each of the multiple choice responses to each question.
The obvious response to the poor results is to provide more classes in personal finance (besides encouraging parents to teach their own children). Interestingly, according to the survey, those who took a class in money management and personal finance fared worse than those who did not. However, those who took part ni a stock market simulation game performed better on the survey.
Updated October 9, 2016 and originally published April 6, 2006.