Answer: B

Questions:

• What grade would you give yourself for your money management skills? Explain your answer and the criteria you used to grade yourself. 
• What are some areas that you think you can improve? What steps can you take to make this happen?
• Do you think most people are under or overconfident when it comes to their financial skills? Explain. 

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the Numbers (Ipsos)

Most Gen Zs would give themselves a passing grade when it comes to successful money management, with very few giving themselves a ‘D’ (5%) or ‘F’ grade (2%), and 8% saying that they simply don’t manage their money at all. Instead, one in five give themselves an ‘A’ grade (20%) when it comes to successfully managing their money, and twice as many give themselves a ‘B’ (41%). Just under a quarter would give themselves a ‘C’ grade (23%) for money management.

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Overconfidence is one of those cognitive biases we often see in personal finance. Here's an infographic that shows many of the other mental mistakes that we are prone to commit. 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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