ABSTRACT
This study addressed two pivotal questions in financial literacy studies. The first is about how we should measure financial literacy, while the second concerns how much people know about finance in Europe. The assessment methodology developed in the first part of the study was applied on data from different European countries (the UK, Germany, France, Italy, Spain, and Sweden). Results show that on average people fail more than 50% of the questions about financial literacy. If this results is not positive, in the meanwhile there topics that are much more familiar to European consumers (e.g. Bank accounts, Payments), even if they struggle with other areas of knowledge (e.g. Bond and Stock Investments). The comparison of different country highlights how there are some clear differences, both on the average financial literacy and in specific areas of knowledge.
