Smart Talk

Smart Talk is a daily, live, interactive program featuring conversations with newsmakers and experts in a variety of fields and exploring a wide range of issues and ideas, including the economy, politics, health care, education, culture, and the environment.  Smart Talk airs live every week day at 9 a.m. on WITF’s 89.5 and 93.3.

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Host: Scott LaMar

How financially literate are you?

Written by Scott LaMar, Smart Talk Host/Executive Producer | May 22, 2012 6:13 PM

Radio Smart Talk for Wednesday, May 23:

If interest rates rise, what will typically happen to bond prices? Rise, fall, stay the same, or is there no relationship?  The answer is typically bond prices will fall when interest rates rise.  Less than one-third of Americans answered that question correctly in a New York Times Economix quiz testing financial literacy.

As a nation, we aren't very knowledgeable about mortgages, retirement savings, credit card debt and other money matters. 

The same survey showed the group that fares the worst is 51-56 years old, which is a bit of a surprise since that age group has more experience with maintaining a family budget.

The age group that scored the highest on the survey was 23-28 year olds.

Here's another tidbit from the Times survey-- the strongest tie between someone who is financial literate is their parents' education, especially the education of their mother.

On Wednesday's Radio Smart Talk, we'll look at financial literacy and what we don't know but should, as well as answer any questions you may have.

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