{"id":639165,"date":"2017-10-23T03:26:16","date_gmt":"2017-10-23T03:26:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/23\/how-financially-literate-are-you\/"},"modified":"2017-10-23T03:26:16","modified_gmt":"2017-10-23T03:26:16","slug":"how-financially-literate-are-you","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/23\/how-financially-literate-are-you\/","title":{"rendered":"How financially literate are you?"},"content":{"rendered":"

How financially literate are you? <\/strong>From this morning\u2019s Wall Street Journal<\/a>: \u201cThere\u2019s a financial-literacy crisis in the U.S. And it is probably even worse than it seems. Study after study shows how poorly Americans understand money and investing. Consider this common question posed by surveys: \u201cSuppose you had USD 100 in a savings account and the interest rate was 2% a year. After five years, how much do you think you would have in the account if you left the money to grow?\u201d<\/strong> More than two-thirds of Americans over the age of 50 got the answer wrong when asked to choose from among three possibilities: More than USD 102, USD 102, less than USD 102. Read the piece (paywall) for the questions that go on to differentiate between financial literacy and \u201cfinancial comprehension\u201d \u2014 what you really understand about the basics of personal finance. (The answer to the first question here: USD 110.41.)<\/p>\n","protected":false},"excerpt":{"rendered":"

How financially literate are you? From this morning\u2019s Wall Street Journal: \u201cThere\u2019s a financial-literacy crisis in the U.S. And it is probably even worse than it seems. Study after study shows how poorly Americans understand money and investing. Consider this common question posed by surveys: \u201cSuppose you had USD 100 in a savings account and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9003],"tags":[72,2397],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-639165","post","type-post","status-publish","format-standard","hentry","category-worth-reading","tag-enterpriseam","tag-worth-reading","wpautop","entry"],"acf":{"mongo_id":"eb57e453-a2f5-43ca-8b55-f17a2b3cc0f9","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[639140],"teaser":"","voice_url":""},"yoast_head":"\nHow financially literate are you? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/23\/how-financially-literate-are-you\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How financially literate are you?\" \/>\n<meta property=\"og:description\" content=\"How financially literate are you? From this morning\u2019s Wall Street Journal: \u201cThere\u2019s a financial-literacy crisis in the U.S. And it is probably even worse than it seems. Study after study shows how poorly Americans understand money and investing. 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Historians often credit Egypt\u2019s educated, literate upper class for molding the modern-day nation state between 1870 and 1930, and the common historical narrative tends to make a binary division between the literate elites and the uneducated majority. 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ON THE TUBE TONIGHT- (all times CLT) The personal finance makeover show: Netflix\u2019s Get Smart With Money sees financial advisers educate four financially clueless people from different socioeconomic backgrounds on how to better manage their money and meet their financial goals. The documentary setup is highly reminiscent of home\u2026","rel":"","context":"In "ENTERPRISE RECOMMENDS"","block_context":{"text":"ENTERPRISE RECOMMENDS","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-recommends-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/473.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594635,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/what-were-tracking-on-3-september-2019\/","url_meta":{"origin":639165,"position":2},"title":"What we\u2019re tracking on 3 September 2019","author":"enterpriseam admin","date":"3 September 2019","format":false,"excerpt":"It\u2019s PMI day: The purchasing managers\u2019 index for Egypt, the UAE and Saudi Arabia will be released this morning at 06:15 CLT. Non-oil business activity grew in July after two months of contraction, buoyed by a slight growth in output and new orders. Other key data points to keep your\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598265,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/fintech-in-egypt-has-the-potential-to-boom\/","url_meta":{"origin":639165,"position":3},"title":"Fintech in Egypt has the potential to boom","author":"enterpriseam admin","date":"20 May 2019","format":false,"excerpt":"A deep dive into the state of fintech in Egypt: Egypt\u2019s burgeoning fintech scene could spur growth by helping bring more people and businesses into the formal economy, writes Yasmeen Nabil in Wamda. 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Convicted in New York on Tuesday on ten criminal counts of narcotics trafficking and money laundering, Joaqu\u00edn Guzm\u00e1n Loera (\u201cEl Chapo\u201d) may spend the rest of his\u2026","rel":"","context":"In "Worth reading"","block_context":{"text":"Worth reading","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-reading\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/827.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634305,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/world-banks-miga-to-provide-usd-102-6-mn-in-guarantees-for-six-solar-plants-in-egypt\/","url_meta":{"origin":639165,"position":5},"title":"World Bank\u2019s MIGA to provide USD 102.6 mn in guarantees for six solar plants in Egypt","author":"enterpriseam admin","date":"11 January 2018","format":false,"excerpt":"The World Bank\u2019s Multilateral Investment Guarantee Agency (MIGA) is providing USD 102.6 mn in guarantees for six solar plants in Egypt with a combined production capacity of 250 MW, Renewables Now reports. 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