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TEST YOUR FINANCIAL LITERACY

TEST YOUR FINANCIAL LITERACY

TEST YOUR FINANCIAL LITERACY

How much do you really understand about interest rates and how they tend to affect specific parts of our economy? Is there an advantage to buying specific stocks over mutual funds? If you lose your job, what happens to your 401(k)? If questions like these sometimes confuse you, you are not alone. The beginning of the new year is an ideal time to take stock of your financial knowledge and determine what more you need to know. Knowledge really is power when it comes to managing your personal finances. We found several financial literacy quizzes you can take online. We hope you do well on the quizzes, but if they prove difficult for you, don’t get discouraged – get started. This could be your year to become more financially literate.

The first few quizzes are provided by the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation. Here you can test your financial knowledge, find out how your knowledge compares to your fellow Americans, and test your investment knowledge. Click here to begin.

The Wall Street Journal’s financial literacy quiz may seem even tougher than the FINRA quiz, but consider it a challenge. Click here to begin

Continually educating yourself about all aspects of your financial life empowers you to make the best decisions for your current and future security. Staying informed about current economic conditions and investment strategies is equally as valuable. Keep your eye on this column each week, and we will continually inform you about personal finance news that directly affects you.

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