Does Financial Literacy Make A Difference?

As of July 2020, unemployment claims due to coronavirus-related job losses exceeded _______. (start of pandemic - July)

• 1 Million

• 4 Million

• 40 Million

• 400 Million

In a 2017 Fed Reserve survey, ______ % of adults reported they would be unable to cover an unexpected $400 expense without selling something or borrowing.

• 4

• 14

• 40

• 80

In a recent EVERFI survey, _____% of college students reported they felt less prepared to manage their money than to face ANY other challenge associated with college.

• 23

• 53

• 73

• 93

A 2018 study of financial health outcomes for a diverse set of 18-22 year olds, showed those that were required to take a form of financial literacy in hs, had ________________.

• better communication skills.

• better marriages.

• better hair.

• better credit scores.

An Institute for Research on Poverty Study determined that young adults who received state-mandated fin lit ed in high school were less likely to choose

• higher insurance deductibles.

• high-interest payday loans.

• low yield investments.

• low risk stock options.

The interest rate on the average payday loan is _____%. And that's if you pay it back in two weeks!

• 3

• 23

• 31

• 391

Millennials are starting their careers with a combined $_________ of student debt…..and counting. (LendEdu)

• $500,000.

• $1.5 million

• $1.5 billion

• $1.5 trillion

The average U.S. consumer holds two credit cards and carries a balance of $___________ at 15-20% interest rates. (Experian)

• $1,500.

• $5,551.

• $10,551.

• $15,551.

_____ of American adults have $0 saved for retirement. (Money Magazine)

• 1/10

• 1/2

• 1/3

• 1/4

Only _____ out of _____ students nationwide graduates with a required personal finance course.

• 1 - 2

• 1 - 6

• 5 - 10

• 6 - 1