Average Filipino Has Financial IQ of 48

The Philippines is one of the 11 countries where Citibank decided to conduct a survey called Citi Fin-Q to measure financial intelligence among consumers. The results were stark: eight out of ten Filipinos believe they face a bleak retirement and more than half expect to be supported by their children in their old age. Nine out of ten attempt to follow a budget, but only 33 percent stick to it.

We definitely need to improve financial literacy in our schools. Students are graduating without the basic skills needed to manange personal finances.

Advertisements

One Response

  1. I read Robert Kiyosaki’s Rich Dad, Poor Dad. So true about financial literacy.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: