A recent report from the FINRA foundation showed that two-thirds of Americans couldn’t pass the fundamental financial literacy test. This study carried out from the National Capability Study surveyed 27,562 Americans between June to October 2015.

One of the biggest problems for the participant is bond. Only 28% knew what happens to the prices of bond when the rate fall. And over half of all the respondents fail the fundamental questions about financial risk. Besides financial literacy, they found out that most Americans have recovered from the financial crisis – the percentage of respondents that reported they have no issue covering their monthly bills and expenses increases from 36% in 2009 to 48% in 2015.

Finance News – Half of the Americans Using Credit Cards

Furthermore, over half of the Americans using credit cards reported paying off their credit balance each month. However, even eight years after the economic crisis, the study showed that a significant part of the population, including millennials, Hispanics, African Americans, and women lack a high school education.

Also, women are more likely to lay back when it comes to medical services like buying prescriptions, seeing a doctor due to cost. As for women, a previous report shows that while there is an increase in the number of employed women, the level of female unemployment is still higher than what it used to be before the economic recession.

Also, 29% of the millennials (between the age of 18 to 34) have been behind in paying their mortgage as against 16% of the Americans between the age of 35 to 54. According to Deutsche Bank, despite the overall recovery from the great recession, there is 60% chance the United States is headed back into recession primarily because the difference between short-term and long-term bonds has been dwindling.