The Insurance Pro Blog

Numerical Illiteracy, it’s Worse than You Thought

 

Today the most fascinating experiment on the human condition took place on (of all places) Facebook.  When I took my somewhat usual stroll into check Facebook this morning I happened upon a post with a very simply math equation: 9-5+5*0+3=?

Apparently this has been floating around the Internet for a little while, but this was the first I've seen of it.  I looked at the equation and quickly did the math.

The Insurance Pro Blog  The answer is 7.

Shockingly, there was a bunch of people who wanted to claim the answer is 3.

Now, I can see how one gets to that answer–by violating order of operations–but this post (or more so it's comments) validated something I don't like to admit: we're Americans we suck at Math.

A screen shot from what I saw is posted above.  I especially like the one post stating: “7, really?  It's 3.”

And this is Why We're Worried

When it comes to financial planning, an advanced grasp of mathematics is not required, but there are a few basics you kind of need to have covered.  I've always been baffled at people's inability to calculate percentages (discussion for another day).

The worrying notion here is: if they can't get this one right, what else are they getting wrong?

Americans are in debt and don't save nearly enough.  Most of them fail to see the problem with the situation.  Here's an interesting anecdotal look at how soon-to-be college graduates at a relatively well respected institution look at spending and debt.

What my point?  Well, if you can't figure out how the answer to the problem above works out to 7, you might need a little help navigating through financial decisions, so drop us a line and we'll help you out.

About the Author Brandon Roberts

Brandon launched the Insurance Pro Blog in July of 2011 as a project to de-mystify the life insurance industry. Brandon was born in Northern New England, and he currently calls VT home. He attended Syracuse University and graduated with a triple major in Economics, Public Administration, and Political Science.

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