S&P: 42% of Poles financially literate

According to the first-ever Standard and Poor's Global Financial Literacy Survey by the World Bank, Gallup, and George Washington University, as many as  42 percent of Poles are financially literate, which puts Poland in 40th position globally. The result is significantly lower than the result for the whole EU, which stands at 52 percent. S&P defines financial literacy as the ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it, or how that person donates it to help others. Norway, Denmark and Sweden tied for first place, with 71 percent of their population ranking as financially literate. Yemen came in last, with only 13 percent of the Yemeni population deemed financially literate by the S&P survey. The global average amounted to 33 percent. The survey was based on interviews with more than 150,000 adults across 148 countries. Of the 148 countries targeted for data collection in 2014, 144 countries successfully collected data and met Gallup quality standards.