Global Thinking Foundation | July 2017
Summary: Financial literacy is a skill that is essential if one is to participate in today’s economy. Wide-ranging developments in the financial marketplace have contributed to growing concerns about the level of financial literacy of citizens of many countries. Through analysis of the S&P Global FinLit Survey, the most comprehensive global data set on financial literacy to date, we find that financial illiteracy is widespread, but it is particularly pronounced among women. Worldwide, just one in three adults show an understanding of basic financial concepts, making it clear that billions of people are unprepared to deal with rapid changes in the financial landscape…