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NH scores 6th on financial literacy quiz

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New Hampshire residents scored 6th in the nation on a test of financial literacy from the FINRA Investor Education Foundation

Questions covered topics from compound interest to mortgage payments.

New Hampshire participants scored an average 3.54 questions correct out of 6. The national average was 3.16 questions correct.

While New Hampshire scored above the national average, the report still concluded that New Hampshire residents do not have adequate financial knowledge.

59% of New Hampshire residents who participated in the FINRA test reported they were never offered financial education, and only 49% said a parent or guardian taught them how to manage finances.

According to a 2015 report from Champlain College, New Hampshire high schoolers receive less than 15 hours in personal finance education. 

On the other hand, the Champlain College report only found 10 states offering more than 15 hours of personal finance education.

Opponents of a state mandate to increase financial education also argue that local school districts and parents should determine the adequate amount of time to spend on the issue.

Want to test your own financial literacy? Take the quiz here

Do you have an opinion on financial literacy in the granite state? Share your thoughts in the comments.

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