- Five-point gap in financial literacy between men and women
- U.S. ranks 14th in literacy worldwide
WASHINGTON, D.C. — Two-thirds of adults worldwide are financially illiterate, with sizable gaps between men’s and women’s financial literacy.
These data are from Standard & Poor’s Ratings Services Global Financial Literacy Survey of more than 150,000 adults in 148 countries in 2014. Adults were tested on their knowledge of four basic financial concepts: risk diversification, inflation, numeracy and compound interest. Respondents were considered financially literate if they were able to correctly answer questions about three of the four concepts.
Data were collected via the Gallup World Poll, and researchers from the World Bank Development Research Group and the Global Financial Literacy Excellence Center at George Washington University conducted the analysis. The findings represent the world’s largest, most comprehensive global measurement of financial literacy to date.