Financial aptitude worsens despite credit crunch's grip

Financial literacy among British adults has declined over the year, despite personal finance issues taking centre stage over the past 12 months, according to Abbey. In August 2007 Abbey set a GCSE level personal finance exam among a representative group of adults, and found that one-in-ten (5.9 million) would fail to achieve the 40% mark needed to gain GCSE grade C. A repeat of the exercise, among 1,054 adults, one year on shows the number of adults failing to achieve a C has increased by 1.2 million adults. The 18-24 year old group, slipped from an average score of 56% in 2007 to 53% in ...