Financial literacy falling with women on leave also struggling to secure loans

It appears that our financial literacy is on the downturn with women struggling the most to understand simple financial questions. According to new research, our financial literacy fell significantly between 2016 and 2020, which has reportedly left researchers “dumbfounded”. The latest Household, Income and Labour Dynamics in Australia (HILDA) found that declines in financial literacy were larger among people aged under 35 than those in older aged groups. Women scored lower than men across all age groups in both years, according to the study. Respondents aged 15 to 24 scored just 2.9 out of 5 in 2020, after scoring 3.4 […]

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