U.S. 15-year-olds understand some common principles of money management and can make simple financial plans and solve “routine” problems related to budgeting, according to the latest results of an international financial literacy assessment.

But results of the 2018 Program for International Student Assessment in financial literacy — conducted in 20 countries — shows they’re not as skilled at interpreting complex documents, such as bank statements, or looking at the long-range consequences of financial decisions.

On a 1,000-point scale, the average score for U.S. students was 506, placing them behind their peers in Estonia, Finland, Canada and Poland, and in roughly the same range as 15-year-olds in Australia and Portugal. The Russian Federation, Spain, Italy and Brazil were among the countries scoring significantly lower than the U.S.

Full article at Education Drive

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