How Literate are Financial Literacy Tests?

P4P026-FinancialLiteracyTestPart1How financially literate are students? Kim Butler and Todd Strobel head back to high school to take a test. Questions about Financial Literacy are asked, answered, and discussed, as well as why a few of the questions themselves might be misleading!

This financial literacy test features a segment about investing, financial responsibility and insurance, as well as a segment on credit cards and debt. There will be no talking during the test on today’s episode of the Prosperity Podcast.

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Show Notes:

[0:00] Prologue

[0:19] Intro

[0:37] The Financial Literacy Test

[1:59] The Best Source of Investment Advice

[4:22] Brokerage Firms that Provide Lowest Cost of Shares

[5:31] Who Supports the Loss of Value in a Mutual Fund?

[7:10] When are You Least Likely to be Asked About Your Credit Score?

[8:30] Which of These People Needs the Greatest Amount of Life Insurance?

[11:43] Prosperity Accelerator Pack

[12:21] Insurance that Covers Automobile Flood Damage

[13:05] Credit Cards for Those that Pay the Monthly Balance

[14:54] Minimizing Future Interest Payments

[16:30] Terms Not Associated with Borrowing

[16:58] Actions that Most Change a Credit Score

[17:51] Credit Scores and Finance Charges

[19:59] Wrap-Up

[20:38] Outro


When did we decide that the least cost meant it was the best value? -Kim D.H. Butler Click To Tweet Make your future bigger than your past, and questions are more valuable than answers. -Dan Sullivan Click To Tweet The 0% financing that companies offer is not usually a true 0% cost. The interest is added to the cost of whatever you’re buying. Click To Tweet



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