How youth in OECD countries stack up in terms of financial literacy

Many teenagers struggle to make basic financial decisions related to everyday spending, according to a new study from the Organization for Economic Co-operation and Development.

The Programme for International Student Assessment tested about 48,000 15-year-olds from across 15 countries on their financial literacy.

And many youths received a failing grade.

According to the research, only about a quarter of students could make “simple decisions” related to routine money matters.

Furthermore, just one in 10 youth had an understanding of more complex issues, such as income tax.

To see how youth from different countries across the OECD stack up in terms of their financial literacy, click through the gallery.

Countries are ranked based on their mean test scores. The OECD average was 487.

How youth in OECD countries stack up in terms of financial literacy

No. 15: Brazil
Mean test score: 393
(AP Photo/Silvia Izquierdo)

How youth in OECD countries stack up in terms of financial literacy

No. 14: Peru
Mean test score: 403
(AP Photo/Mark Humphrey)

How youth in OECD countries stack up in terms of financial literacy

No. 13: Chile
Mean test score: 432
(Photo by Laurence Griffiths/Getty Images)

How youth in OECD countries stack up in terms of financial literacy

No. 12: Slovak Republic
Mean test score: 445
(Photo by Jamie McDonald/Getty Images)

How youth in OECD countries stack up in terms of financial literacy

No. 11: Lithuania
Mean test score: 449
(Photo by Bruce Bennett/Getty Images)

How youth in OECD countries stack up in terms of financial literacy

No. 10: Spain
Mean test score: 469
(Photo by Gonzalo Arroyo Moreno/Getty Images)

How youth in OECD countries stack up in terms of financial literacy

No. 9: Italy
Mean test score: 483
(Photo by Giuseppe Bellini/Getty Images)

How youth in OECD countries stack up in terms of financial literacy

No. 8: Poland
Mean test score: 485
(Photo by Giorgio Cosulich/Getty Images)

How youth in OECD countries stack up in terms of financial literacy

No. 7: United States
Mean test score: 487
(AP Photo/Steven Senne)

How youth in OECD countries stack up in terms of financial literacy

No. 6: Australia
Mean test score: 504
(Photo by Mark Kolbe/Getty Images)

How youth in OECD countries stack up in terms of financial literacy

No. 5: Netherlands
Mean test score: 509
(AP Photo/Peter Dejong)

How youth in OECD countries stack up in terms of financial literacy

No. 4: Russia
Mean test score: 512
(Photo by Brendan Hoffman/Getty Images)

How youth in OECD countries stack up in terms of financial literacy

No. 3: Canada
Mean test score: 533
(THE CANADIAN PRESS/ Patrick Doyle)

How youth in OECD countries stack up in terms of financial literacy

No. 2: Belgium
Mean test score: 541
(Photo by Ian Walton/Getty Images)

How youth in OECD countries stack up in terms of financial literacy

No. 1: China
Mean test score: 566
(Photo by VCG/VCG via Getty Images)

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