The UK has outscored most European countries including Germany and Switzerland in the financial literacy of its population, according to a recent global survey.
British people came out sixth best in a global survey by ratings agency Standard & Poor's (S&P), which tested people on their knowledge across numeracy, interest compounding, inflation, and risk diversification. It found 67% of adults were financially literate compared with an average of 55% across the G7 countries and 53% in high income OECD economies. The UK was also the only country in Western Europe, and one of countries 13 globally, where women fared better than men in terms of their financial literacy. Courtney Geduldig of McGraw Hill, parent company of S&P, said: "We believe...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes