Money Skills: Survey on Adult Financial Literacy in 39 countries/economies

💰Money Skills: Results from OECD/INFE 2023 survey on adult financial literacy in 39 countries and economies.

Map shows the overall financial literacy scores (0-100) per country, which reflect combined assessment of financial knowledge (e.g., understanding inflation and interest), behaviour (e.g., paying bills on time and saving habits) and attitudes (e.g., preferences for short-term spending vs. long-term saving).

The three components are weighed as follows:

• Financial Knowledge Scores (35)
• Financial Behaviour Scores (45)
• Financial Attitude Scores (20)

The average score across the 39 participating countries/economies were 60 out of 100, with the average for OECD-countries 63 out of 100.

Study also found that on average only 34% of adults reached the minimum target score on financial literacy.

Other notable results include:

• 84% of adults understand the definition of inflation
• 42% can correctly answer a question about compound interest
• 26% compare financial products across providers
• 15% have been a victim of at least one type of monetary fraud or scam

Read more in the OECD/INFE 2023 international survey of adult financial literacy