Low numeracy is associated with poor financial well-being around the world.

Numeracy refers to the ability to use numbers, including converting percentages (e.g., 10%) into absolute frequencies (e.g., 1 in 10). Studies have suggested that numeracy is correlated to financial outcomes, suggesting its relevance to financial decisions. However, almost all research on numeracy h...

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Autores principales:	Wändi Bruine de Bruin, Paul Slovic
Formato:	article
Lenguaje:	EN
Publicado:	Public Library of Science (PLoS) 2021
Materias:	Medicine R Science Q
Acceso en línea:	https://doaj.org/article/8f24d66a642c4b8db8ab287386af21ae
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spelling	oai:doaj.org-article:8f24d66a642c4b8db8ab287386af21ae2021-12-02T20:16:16ZLow numeracy is associated with poor financial well-being around the world.1932-620310.1371/journal.pone.0260378https://doaj.org/article/8f24d66a642c4b8db8ab287386af21ae2021-01-01T00:00:00Zhttps://doi.org/10.1371/journal.pone.0260378https://doaj.org/toc/1932-6203Numeracy refers to the ability to use numbers, including converting percentages (e.g., 10%) into absolute frequencies (e.g., 1 in 10). Studies have suggested that numeracy is correlated to financial outcomes, suggesting its relevance to financial decisions. However, almost all research on numeracy has been conducted in high-income countries in Europe and North America. Our analyses suggest that low numeracy is much more common in low-income countries, thus potentially threatening the financial well-being of the world's poorest. We analyzed data from the Lloyd's Register Foundation World Risk Poll, which assessed basic numeracy in 141 countries, including 21 low-income, 34 lower middle income, 43 upper middle income, and 43 high-income countries. Numeracy was associated with being among the poorest 20% of one's country, and with difficulty living on one's income, even after accounting for income, education, and demographics. These findings underscore the importance of worldwide numeracy education.Wändi Bruine de BruinPaul SlovicPublic Library of Science (PLoS)articleMedicineRScienceQENPLoS ONE, Vol 16, Iss 11, p e0260378 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Wändi Bruine de Bruin Paul Slovic Low numeracy is associated with poor financial well-being around the world.
description	Numeracy refers to the ability to use numbers, including converting percentages (e.g., 10%) into absolute frequencies (e.g., 1 in 10). Studies have suggested that numeracy is correlated to financial outcomes, suggesting its relevance to financial decisions. However, almost all research on numeracy has been conducted in high-income countries in Europe and North America. Our analyses suggest that low numeracy is much more common in low-income countries, thus potentially threatening the financial well-being of the world's poorest. We analyzed data from the Lloyd's Register Foundation World Risk Poll, which assessed basic numeracy in 141 countries, including 21 low-income, 34 lower middle income, 43 upper middle income, and 43 high-income countries. Numeracy was associated with being among the poorest 20% of one's country, and with difficulty living on one's income, even after accounting for income, education, and demographics. These findings underscore the importance of worldwide numeracy education.
format	article
author	Wändi Bruine de Bruin Paul Slovic
author_facet	Wändi Bruine de Bruin Paul Slovic
author_sort	Wändi Bruine de Bruin
title	Low numeracy is associated with poor financial well-being around the world.
title_short	Low numeracy is associated with poor financial well-being around the world.
title_full	Low numeracy is associated with poor financial well-being around the world.
title_fullStr	Low numeracy is associated with poor financial well-being around the world.
title_full_unstemmed	Low numeracy is associated with poor financial well-being around the world.
title_sort	low numeracy is associated with poor financial well-being around the world.
publisher	Public Library of Science (PLoS)
publishDate	2021
url	https://doaj.org/article/8f24d66a642c4b8db8ab287386af21ae
work_keys_str_mv	AT wandibruinedebruin lownumeracyisassociatedwithpoorfinancialwellbeingaroundtheworld AT paulslovic lownumeracyisassociatedwithpoorfinancialwellbeingaroundtheworld
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Low numeracy is associated with poor financial well-being around the world.

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