Time – Staff Writer
“The U.S. lags more than a dozen developed nations in terms of basic personal financial know-how, new research shows. The findings pile on to results of a study last year showing ho-hum money smarts among U.S. teens, and they further highlight the need for financial education in schools and the workplace. In a study of adults in 143 nations, the U.S ranks 14th, according to the Standard & Poor’s Global Financial Literacy Survey, conducted with the Global Financial Literacy Excellence Center at George Washington University and World Bank Development Research Group. The vast majority of these are underdeveloped economies. Among developed nations, the U.S. ranks behind countries including Denmark, Canada, Germany, the U.K., Australia, and New Zealand.”(more)