A study involving 3,000 participants has revealed that one in five Brits struggle with everyday maths problems. These range from calculating discounts and negotiating prices to understanding the terms of a loan. Furthermore, 19% of respondents admitted that the current cost-of-living crisis has exposed their numerical weaknesses.
However, it's not just about budgeting and interest rates. Calculating discounts, understanding loan terms, and negotiating prices were among the top financial scenarios adults confessed to avoiding due to the numbers involved. "Those lacking number confidence are even more vulnerable to debt, unemployment and fraud, and those from lower socio-economic backgrounds are disproportionately impacted."
Of those, 42 per cent said they could have put more money aside for price increases, while 41 per cent believed they could have budgeted more effectively.
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