How financially literate are you?

You guys not getting 5/5 are wayyyyy over thinking it!

It's supposed to be so that the average dumb Aussie can understand the question

 

Just because your result is different it doesn't change the statistics or validity

 

My mum looks after the finances in her household too, so don't feel alone

 

Why does it matter male or female running finance it should goes to the most able
person.

Family finance is an important job in the family a few bad move could real hurt your livelihood.

You don’t give an important job to someone who want to do it but no good at it.

That job goes to the most able person to protect and grow the money

 

I currently manage the finances, but my wife used to do it, after our first child I took over.

I try to keep her across the decisions and details, as there is huge "key person" risk in this.

 

Agree about the key person risk. I manage the finances but keep my partner involved. I have a higher debt tolerance (for investment ) so maybe that's a bad thing ??

 

I am the reverse when I am in charge of someone else's money I am very careful not to do anything that could lose them capital, so I only go in when the risk are highly in my favour.

compounding works good when it is un-interrupted, a zero or -ve number do massive damage to its returns

 

Besides making assumptions that are not supported by the information provided (classic error in test taking), the conclusion you have come to is also wrong - salary and cost of living have both doubled - the safe assumption here is that they have both tracked inflation, and that any tax impact would also be modified with inflation, so no relative change in that respect.

Cheers,
Inertia

 

Thankful for the bookkeeping/typing skills I learnt many years ago, saved me heaps.

 

Mrs always said that she's a better cook but complained when i dont cook

 

I gave the quiz to Hubby, because, like you, I take care of the finances & always have. He got 4/5, but only because he read the first question wrong and answered $2, as that was the interest, not $102 which was the principal AND the interest.

 

wondering who actually takes these tests here if @Perthguy didn't post it on PC.

 

I saw it on the Cuffelinks facebook page. And got 5/5 easily.

 

I saw it on Facebook, so Facebook users I guess

 

Primary school level stuff surely except the investing in one or multiple companies question. I’m not sure if one could even classify them as investing questions.

 

That explains everything!