It seems we have a big problem with financial literacy in the UK. More young people struggle with simple calculations, and a recent survey for Allianz said even adding up basic change was an issue many struggle with. We explore what this means when it comes to buying insurance, why people are so bad at calculating risk, and whether it would help if financial education is changed in schools.

To find out why there is a higher concentration of high financial literacy amongst the older generations, and more so for men, our host - Steph McGovern - is joined by:
Patricia Pelayo Romero, an economist with Allianz John Jerrin, a Professor of Education and Social Statistics at UCL