We’re always hearing about how bad adults are with their money, and it may be because they don’t learn the right tools when they’re young. Well, a new test seeks to find out just how much our kids know when it comes to financial literacy, and it seems they definitely need to learn more on the subject.
About 17,206 people from all 50 states took the 30-question National Financial Literacy Test, which measures teens' and young adults' ability to earn, save, and grow their finances. People of all ages took the test and the average score on the nationwide sample was 63.17%, but among 15-to-18-year-olds, 60.78% scored 70% or lower.
- The best scoring: Teens in Oregon earned the highest average score (65.99%) of all 50 states where at least 200 youth took the test, although the highest scores were recorded in Illinois (65.47%), Indiana (65.05%), Massachusetts (64.87%), Utah (63.71%), Texas (63.06%) and Kentucky (62.01%).
- As for the lowest scoring: They were recorded in Georgia (51.04 %), Maryland (54.87%), Florida (55.54%), New York (55.87%) and California (56.28%).
Source: Yahoo Finance