Financial Literacy Test: Part 1 - Episode 026

How financially literate are students? Kim Butler and Todd Strobel head back to high school to take a test. Questions about Financial Literacy are asked, answered, and discussed, as well as why a few of the questions themselves might be misleading! This financial literacy test features a segment about investing, financial responsibility and insurance, as well as a segment on credit cards and debt. There will be no talking during the test on today’s episode of the Prosperity Podcast.

If you haven’t already, check out our ebook, Financial Planning Has Failed, now available as an audiobook as well. Visit our site and download your free copy now!

Show Notes:

[0:00] Prologue

[0:19] Intro

[0:37] The Financial Literacy Test

[1:59] The Best Source of Investment Advice

[4:22] Brokerage Firms that Provide Lowest Cost of Shares

[5:31] Who Supports the Loss of Value in a Mutual Fund?

[7:10] When are You Least Likely to be Asked About Your Credit Score?

[8:30] Which of These People Needs the Greatest Amount of Life Insurance?

[11:43] Prosperity Accelerator Pack

[12:21] Insurance that Covers Automobile Flood Damage

[13:05] Credit Cards for Those that Pay the Monthly Balance

[14:54] Minimizing Future Interest Payments

[16:30] Terms Not Associated with Borrowing

[16:58] Actions that Most Change a Credit Score

[17:51] Credit Scores and Finance Charges

[19:59] Wrap-Up

[20:38] Outro