Across generations, women have trailed men in financial knowledge — but the gap may be closing, according to a multi-year study by the FINRA Investor Education Foundation.
The study examines financial and investor literacy scores across generations of boomers, Gen Xers and millennials by looking at the average number of correct answers on a basic five-question financial literacy quiz broken out by gender and generation at three points in time — 2009, 2012 and 2015.
|Gap narrowed for millennials
In 2015, the gap in financial literacy between boomer men and women was 19%, and for Gen Xers 18%, according to the study. But for millennials, it was only 10%.
Related: Teach insurance literacy
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Emily Zulz
Emily joined the ThinkAdvisor team as a reporter in the summer of 2014. She previously worked as a reporter for The Daily Journal in Kankakee, Illinois for a year and as a reporter and editor for The Daily Eastern News in Charleston, Illinois for two and a half years. Prior to joining ThinkAdvisor, Emily worked on Groupon’s editorial team in Chicago as a fact checker for three years. She graduated cum laude with a BA in journalism from Eastern Illinois University, and she has been the recipient of two journalism awards for her news reporting at daily newspapers.
