Are the Irish more financially literate than largely financially illiterate Americans?

Patslatt1

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See New report finds only 16% of millennials qualify as ‘financially literate’
The simple questions in the link testing financial literacy shouldn't challenge most primary school graduates, yet many Americans with college education couldn't answer them. I'd hope the Irish would do a lot better.
It's interesting that about half of the old generation of Americans are far more literate than millenials. Maybe unproven progressive education theories since the 1960s are to blame if they downgraded the importance of teaching compound interest which is the foundation of financial literacy.
P.ie readers with experience of consumer loans should give us their opinions.
 


GabhaDubh

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So, how can we rate American Irish or Irish American’s.
 

Sync

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So, how can we rate American Irish or Irish American’s.
Well 2 of the questions are math based (and very easy) and every international survey shows how poorly the US does against other developed countries in math. So there’s that.

The third questions kind of cheating unless the person you’re asking has stocks or is planning to get them in the next 5 years. If your focus is just on being able to buy milk and insulin next week then you’re going to focus on that.
 

Hillmanhunter1

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cozzy121

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ridiculous question considering the majority of wealth is held by so few in both nations.
 

Patslatt1

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Hillmanhunter1

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This link seems to be mosly about saving money and spending restraint.
Financial literacy 101:

There are only two things you can do with money, you can spend it or you can save it.
 

Golah veNekhar

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The Irish are particularly good at telling themselves and others how great the Irish are.

Self Praise is No Praise !
Well that is half the story, there is that and than telling people how absolutely crap they are.
 

joe sod

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Well americans invest money in the stock markets, they have the richest stock market in the world , they have wall street, they have silicon valley, so based on that alone I'd say americans are far more financially literate than irish people. Irish people do not invest money whereas americans do, Id say that says more than anything
 

Patslatt1

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Well americans invest money in the stock markets, they have the richest stock market in the world , they have wall street, they have silicon valley, so based on that alone I'd say americans are far more financially literate than irish people. Irish people do not invest money whereas americans do, Id say that says more than anything
The best educated top fifth or so of Americans have a creative streak and many are entrepreneurial.
 


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