Head for figures/ Stylist network/ Stylist - Careers - Stylist Magazine

Numeracy

Head for figures

Maths is the key to financial success

People with a natural talent for numbers are more likely to hit the financial jackpot than those with literary or intellectual powers

According to new research from the Institute for Fiscal Studies and University College London, numeracy is a key skill to accumulating wealth and ensuring a comfortable retirement.

“Those who are more numerate accumulate financial assets at a faster rate than those who are less numerate," it says. This is especially evident in old age. The study found that 80 per cent of income for people who were less numerate came from the state, compared with about 30 per cent for the people with good number skills. Research in the US calculated that this could mean an extra $22,000 (£14,000) more if you’re in a numerical household.

The authors of the study - James Banks, Cormac O'Dea and Zoe Oldfield - say, "as the UK has moved towards a system of individual provision for retirement income, the importance of an individual's or household's ability to make the right choices when it comes to providing for their retirement has increased."

Successful numerate women include poker player Liv Boeree, actress Teri Hatcher who studied mathematics and engineering, and of course Carol Voderman who is a Cambridge University engineering graduate.

So how numerate are you? Take our quick number-crunching quiz, provided by the bulging brains at MENSA:

1. Arrange the following numbers and symbols to give a sum where both sides are equal.

2, 2, 2, 7, 14, x, ÷, ( ), =

2. Add together three of the following numbers to give a total of 55. There is no limit to the number of times a number can be used. How many different combinations are there?

2 3 5 10 15 20 25 50

3. In the first 15 games of a football season the average number of goals per game was three. After the next 30 matches the average number of goals per game had risen to five. What was the average number of goals per game for the last 30 games only?

Answers:

1. (14 x 2) ÷ 7 = 2

2. Five ways: 25 + 15 + 15

25 + 25 + 5

20 + 20 + 15

50 + 2 + 3

25 20 + 10

3. Six

Picture credit: Rex Features

Tags: Business women ideas, Business women tips, Making money tips, Money ideas

Share on

or email.

  • Facebook
  • Digg
  • Delicious

CONNECT WITH STYLIST

Our Most…

Sisters in business

Sisters in business

Ever thought about going into business with your…

More
Top 50 most romantic quotes from literature

Top 50 romantic lines from literature

Losing hearts at first sight, soul-entwining…

More
The Best 100 Closing Lines From Books

The best 100 closing lines from books

Don't judge a book by its cover - instead, try…

More

Fashion Blog: Retro is the future at Louis Vuitton

Nicolas Ghesquière took key elements of the 60s…

More

"Kate Moss radiates life, lust and sex" says best pal Sadie Frost

As part of the infamous Primose Hill set in the…

More

Infographic reveals most iconic beauty products ever

A new infographic has revealed the most iconic…

More

Chanel - Vive la révolution!

A feminist army marched at Chanel this…

More

Your Vote Counts

It's one of the chilliest Augusts in decades. Are you...

It's one of the chilliest Augusts in decades. Are you...