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Mint. The average score up to date is 67.94%, and the percentage of passing scores is 58.68%. The Millennial financial literacy on basic topics like numeracy and mortgages is about 24%. In 2019, active funds lost $90 billion of inflows while passive funds attracted $39 billion. Maryland residents enjoy the highest median household income of just over $78,000. Over 35% of the wealthiest 60%, by contrast, are well-aware of how to handle personal assets. In this state, the rate of economic literacy among young residents is 82.08%, as youth financial literacy statistics reveal. The banks investment in financial literacy is significant, and growing. Financial Literacy for Grades 3-6. The situation is similar in emerging economies, despite the overall lower literacy levels. States with the lowest knowledge on money issues are Arkansas (50.44%), Idaho (51.67%), and Mississippi (51.82%). In 2014, for example, it was lower by 4.73% or 60.21%, as indicated by the NFEC financial literacy survey. Financial illiteracy is the #1 Economic Crisis in the World, which impacts more than 5 billion people across the planet. Thats the core importance of financial literacy. About 50% of adults know about both. In advanced economies, over 95% of individuals have bank accounts, and 57% of those are financially educated. One in four parents reported that they never or almost never talk to their kids about household finances. While financial literacy is essential for amassing wealth and avoiding debt, both youth and adults lack this knowledge. Most of these people live in developed economies such as the US, the UK, and Germany. The concept of earning, including gross versus net pay, benefits, and taxes, was taught to 70% of high school students. Terms, conditions, features, availability, pricing, fees, service and support options subject to change without notice. Only 8% of Millennials have significant financial literacy knowledge on asset pricing, inflation, and risk diversification. According to the Investor Education Fund, financial literacy is best defined as: the set of skills and knowledge that allow you to understand the financial principals needed to make informed decisions and which financial products impact fiscal well-being. This month, the Credit Counselling Society is excited to host a variety of free workshops, webinars, and activities to help Canadians achieve financial well-being. Besides being critical for economic success, financial literacy statistics show that most people lack appropriate knowledge. About 35% of men got 3 out of 4 answers correct, compared to about 30% of women. So, it comes as no surprise that even major economies like the US see soaring levels of household and consumer debts. The, percentage of financial literacy in the USA. Financial Literacy. 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