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Bankrate.com Financial Literacy Survey 2004

For the second year in a row, Bankrate.com commissioned a national poll to grade Americans' level of financial literacy and help them master their money. The results? Let's just say no one will post this report card on his or her fridge. See the latest version of Bankrate's Guide to Financial Literacy.

America's financial literacy grade
America hasn't improved in a year: It still gets a "D" in financial literacy. The good news is that Americans are better than they were last year at knowing what they should do to become financially literate -- things such as having an emergency account, a budget and a will. It's just that they fail to actually do them.

America's financial literacy grade

Debt denial
There's a gap between how Americans say they use credit and the reality. In fact, debt embarrasses us so much that we'd rather disclose our weight and age and salary than the amount we owe. But credit card problems? Nope. Not us. It's that other guy.

Survey shows Americans are in debt denial

Debt psychology
Why do we say one thing about money and do another? Psychologists and credit counselors agree: It may not be mentally healthy, but we like to say that we're wealthy.

The psychology of debt

Who's financially literate? Who's not?
The people who aced our financial literacy test tend to share some traits and attitudes.

The demographics of financial literary in America

Financial literacy pays off
A firm grasp of financial literacy means you'll have more to grasp at the end of each month. Just in mortgages alone, the difference between an "A" in financial literacy and an "F" is $83 off your monthly payment.

The many rewards of financial literacy

12 steps to financial literacy
As the survey shows, simply knowing what you need to do isn't enough. You need to actually do it. These tools and tips will help you close the gap -- and move from just talking the talk to actually becoming financially literate.

12 steps to financial literacy

Financial Literacy
Guide Home
The grade
Debt denial
Debt psychology
Who's literate?
The payoff
12 steps
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Financial Literacy
How do you rank against the rest of America when it comes to financial literacy? Take our quiz to learn your financial literacy grade.
Click here for the test

More financial quizzes
Discover your money matters (and manners) with our fun and informative quizzes.

•Are you a cheapskate?
•The ultimate credit card quiz
•Test your debit-card IQ
•Debt and consequences
•Do you like investment risks?
•Are you financially self-destructive?
•What's your spending style?

 

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