Saturday, July 24, 2021

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Freetrade: Launches ‘The Great British Financial Literacy Test’

  • Freetrade an app that makes investing simple, and free the award-winning app voted Best Share Trading Platform 
  • Investment app Freetrade created the Great British Financial Literacy Test—18 questions about savings, investment
  • The pass rates for questions about investment were the second-lowest at 44%
  • Equally as alarming as the low pass rates across the UK were people’s lack of confidence around aspects of personal finance
  • An overwhelming majority of respondents (91%) told Freetrade they lack confidence in the investment
  • The second most common answer social media with 16% of Brits saying they get financial education from platforms like Instagram

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