The importance of financial literacy and its impact on nations' future financial health. Many Americans still need better resources and targeted education to help them understand the most important issues affecting their finances. Large proportion of U.S. consumers fail basic financial literacy tests. In a study conducted by fellows of the TIAA-CREF Institute, Americans over 50 were asked three questions. To answer them correctly, they needed to understand interest rates, the effects of inflation, and the concept of risk diversification. Only one-third of the respondents were able to correctly answer all three questions. Schools, families, governments, and financial institutions must all play a role in promoting financial literacy. This infographic by Csaba Gabor visualize American people economical & financial literacy.