New research from comparison site Canstar (of which I am Editor-at-Large) shows that a vast number of Aussies lack the knowledge needed to master basic financial concepts and manage their money. The majority (60 per cent) of Australians consider themselves to be financially literate, according to a survey of more than 1000 adults around the country. However, when put to the test, 46 per cent failed Canstar’s new TestMyMoneyIQ quiz, designed to assess the knowledge of basic financial concepts and get a better understanding of how to manage their money.
Money is a tricky topic