A Methodological Issue in the Measurement of Financial Literacy (Economics EDUCATION Articles) (Survey‪)‬

INTRODUCTION In order for an individual to function in our increasingly complex modern society, one must develop a basic understanding of investing, insurance, credit and debt management, and other personal finance topics. Knowledge of these topics is often referred to as financial literacy. Unfortunately, the level of financial literacy in modern American society is generally viewed as being unacceptably low. In a press conference on January 22, 2008 President George W. Bush announced that he was responding to the problem with a special presidential advisory group.