The UK's Finance Knowledge Revealed

We all know how important good financial knowledge is, but how clued up is the average Brit? The world of finance can be a confusing place, with a seemingly endless array of technical jargon to get your head around.

We surveyed 2,000 people from across the UK and asked them 10 financial questions, covering everything from Direct Debits and VAT to mortgages and National Insurance.

Do you know your APR from your VAT?

Test your knowledge in our quiz to see how you stack up against the rest of the UK!

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The average score on our quiz was 3 out of 10, with 95% of the people we 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.

At the other end of the scale, insurance and regular payments are where the UK’s knowledge is the strongest, with 58.2% knowing what “excess” is, and 47.8% knowing the difference between a Standing Order and a Direct Debit.