MSE News: BBC launches huge scientific test into money management

in Debt-Free Wannabe
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This is the discussion thread for the following MSE News Story:

"In one of the largest-ever studies into the UK's ability to manage cash, BBC Watchdog launches the Big Money Test ..."
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Replies

  • michaelsmichaels Forumite
    26.2K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
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    Hmm - 10 basic money knowledge questions and the average score is less than 6.

    Now I have a question - is it immoral to take advantage of those too stupid or too lazy manage their money effectively?
    I think....
  • May2013May2013 Forumite
    423 Posts
    Took the test and thought it was great to see how money savvy I've become in the last year...would have had a dreadful score a couple of years ago!
    LBM Aug '07 Debt [STRIKE]£52,615[/STRIKE] :eek: DEBT FREE Aug '12 :j
    Cap One CC £[STRIKE]5000[/STRIKE]/£0 - HSBC CC £[STRIKE]7500[/STRIKE]/£0 - HSBC Loan £[STRIKE]12,225[/STRIKE]/£0
    M&S CC £[STRIKE]11,500[/STRIKE]/£0 - Egg CC £[STRIKE]8750[/STRIKE]/£0 - Sains CC £[STRIKE]3000[/STRIKE]/£0
    HMRC £[STRIKE]3140[/STRIKE]/£0 - OD £[STRIKE]1500[/STRIKE]/£0
    Pay off ALL your debt by Xmas 2012 £14,128/£14,128 :j
  • PincherPincher
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    9 out of 10 :j for Money Knowledge.

    Got the EHIC one wrong. I thought it was free treatment, but no.

    At least I got the card free.
  • Stephen_LeakStephen_Leak
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    Based on my experience of "Tickwoof" when I was at BT, my only question is what has the producer decided the outcome of the tests will be?
    The acquisition of wealth is no longer the driving force in my life. :)
  • Don't do it on an iPad. Spent 15 mins doing it and then couldn't view the results.
  • poppy10_2poppy10_2 Forumite
    6.5K Posts
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    Don't do it on an iPad. Spent 15 mins doing it and then couldn't view the results.
    Time to get a proper computer. Spending £659 on a shiny non-functional toy is hardly moneysaving, you should have scored 0/10 for that alone.
    poppy10
  • liam8282liam8282 Forumite
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    I'd rather not sign up with the BBC website to do a money survey.

    Then no doubt receive bucket loads of :spam:

    Why not just put the survey on this site?
  • bexster1975bexster1975 Forumite
    1.6K Posts
    Part of the Furniture 1,000 Posts Photogenic Bake Off Boss!
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    I also thought it was a scandal that the average for the Money knowledge was less than 6 ( I also got 9, same answer for EHIC - didn't realise it wasn't free treatment!). It will be interesting to see the overall results. Overall, good to see my attitude to money has improved since joining MSE.

    bexster
  • cepheuscepheus
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    How can you conduct a scientific test with volunteers? Wouldn't the people who agree to participate be the sort of people who are interested in managing their money?

    To be unbiased you have to include a represemtative cross section of the population. This includes the sort of guy who can't be bothered to spend 10 seconds filling in a form for free cashback, or cancel his useless subscription, but is deep in debt and can't understand why he is poor.
  • poppy10_2poppy10_2 Forumite
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    liam8282 wrote: »
    I'd rather not sign up with the BBC website to do a money survey.

    Then no doubt receive bucket loads of :spam:
    The BBC don't spam or pass on your details to any third party. Plus you don't have to give them your real info - just use a fake name and disposable email address, I did.
    poppy10
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