Which country has the lowest financial literacy? (2024)

Which country has the lowest financial literacy?

There is no one definitive answer to the question of which country is the most financially illiterate. However, according to a number of studies, some of the countries with the lowest financial literacy rates include: Somalia: Only 15% of adults in Somalia are considered financially literate.

Where does US rank in financial literacy?

The US Ranking for Financial Literacy

Per Zippia, “The US ranks 14th in financial literacy.

What countries are top in financial literacy?

What is the financial literacy rate in China?

According to the findings, Chinese consumers scored 66.81 on the financial literacy index, rising 2.04 points from 2019.

What is the financial literacy rate in Norway?

In a report on literacy rates around the world, the 10 most financial literate countries include Denmark, Norway, and Sweden each with 71% literacy, Canada and Israel follow with 68%, the United Kingdom with 67%, Germany and Netherlands with 66%, Australia with 64% and Finland with 63%.

Where is financial literacy lowest?

On the other end of the spectrum, South Asia is home to countries with some of the lowest financial literacy scores, where only a quarter of adults—or fewer—are financially literate.

Who has the lowest literacy rate in US?

New Mexico has the lowest literacy rate in the US, with a rate of 70.9%. California has the second lowest literacy rate, at 71.6%, while both Texas and Mississippi have literacy rates of 71.8%, making them the third and fourth states with the lowest literacy rates in the US.

What country has the highest literacy?

Which country has the most finance?

What five countries have the highest literacy rate?

What is India's financial literacy rate?

The West Zone (37%) is leading in financial literacy followed by the North- East (33%), North Zone (32%), South Zone (30%), Centre Zone (21%) and East Zone (20%) respectively. The financial literacy levels of the West, North- East, North and South zones are more than the country average (27%).

How many Americans understand financial literacy?

Only about 57% of Americans are considered financially literate. Nearly 56% of Americans lose sleep over their money issues.

What is the financial literacy rate in the United States?

Key Findings. Only 57% of adults in the United States are financially literate. Missouri, Utah and Virginia boast the best financial literacy rates, while Alaska, Washington, D.C. and South Dakota have the worst financial literacy rates.

What is the financial literacy in Afghanistan?

Financial literacy in Afghanistan is much lower than general literacy rates. According to research conducted in 2015 for the World Bank, financial literacy rates in the country are only about 14%.

What is Greenland's literacy rate?

The literacy rate for Greenland is 100% (as reported by the 2007 CIA World Factbook).

What is Liechtenstein literacy rate?

Overview. Fuerstentum Liechtenstein (The Principality of Liechtenstein) is a landlocked country in central Europe and is surrounded by Austria and Switzerland. The Rhine River forms its western border. The population is 34,498 and the literacy rate is 100%.

What is poor financial literacy?

Whether it's lack of knowledge about banking, credit cards or ways you might become a victim of financial fraud, financial illiteracy could leave you with unnecessary fees, a low credit score and difficulty borrowing money.

How financially literate is Gen Z?

According to the US National Association of Plan Advisors (NAPA), Gen Z has the lowest level of financial literacy, with only 28% of questions being answered correctly on average.

Are black people financially literate?

African American financial literacy

Financial literacy is low among many U.S. adults, including African Americans. On average, African American adults answered 38% of the P-Fin Index questions correctly. Only 28% answered over one-half of index questions correctly, with 5% answering over 75% correctly (Figure 1).

Who has the worst literacy rate?

Literacy Rates by Country

On the other end of the spectrum, eight countries have a literacy rate of less than 40%: Chad (26.76%), Mali (30.76%), South Sudan (34.52%), Botswana (36.75%), Afghanistan (37.27%), Niger (37.27%), Niger (37.34%), Central African Republic (37.49%), and Somalia (37.80%).

Does the US have a 100% literacy rate?

Nationwide, on average, 79% of U.S. adults are literate in 2022. 21% of adults in the US are illiterate in 2022. 54% of adults have a literacy below sixth-grade level. 21% of Americans 18 and older are illiterate in 2022.

Why is US literacy so low?

The burden of poverty places significant constraints on individuals' educational opportunities. Limited access to books, educational resources, and enrichment activities can hinder literacy development, perpetuating the cycle of low literacy rates within families and communities.

What country has a 99% literacy rate?

What is Russia's literacy rate?

The literacy rate reached 99.69% in 2021. Between 2010 to 2021, the literacy rate of Russia decreased by 0.02%. On a year-on-year basis, the literacy rate decreased slightly in 2021. The percentage of the population in each age group who is literate serves as a measure of literacy.

What is the top 10 richest country?