We all know how important knowledge is, but how clued up is the average Brit? With an endless array of technical jargon to get our heads around, Vanquis Bank https://www.vanquis.co.uk surveyed 2,000 people from across the UK and asked them 10 financial questions, covering everything from Direct Debits, VAT, mortgages and National Insurance.
- The average score on the quiz was 3 out of 10, with 95% of the people surveyed scoring 5 or less.
- Mortgages and National Insurance were the areas which caused the most confusion, with just 5% of people knowing how much they could borrow on a mortgage, and 9.7% knowing what their National Insurance rates were.
- Bristol achieved the best score with an average of 3/10, and 20% achieving 5 or more correct answers
Take the quiz, and see how financially clued up you are: https://www.vanquis.co.uk/finance-quiz