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Maths and financial education

Written by Ashwin Rattan Friday, 02 March 2012 17:52
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''Some 17 million adults in England have basic maths skills that are no better than an 11-year-old’s, a new report suggests'' .

(taken from yahoo, click here, to read the full article).

So what does this mean for financial education, and does it explain the UK's personal debt crisis?

As Andy Golding writes in What We Fail To Teach Our Kids About Money, if you're unable to perform basic percentage calculations you're likely to be vulnerable in your financial dealings, and that's even before factoring in the opaqueness that surrounds a variety of financial services terminology.

Is the rise of payday lending in part owing to the fact that borrowers don't understand the terms on which they're borrowing?

All in all, not good.







 

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