BBC launches huge scientific test into money management

In what's likely to be the largest ever study into the UK's attitude and ability to manage its money, BBC Watchdog is today launching a massive scientific experiment called the Big Money Test (go to the BBC site to take the test).

It comes at a time when Britain is still in the midst of one of the most momentous financial crises of modern times, and making ends meet is becoming increasingly difficult for many.

As well as helping you understand how you think about money, the results of the quiz will be used as research to work out how the nation deals with money both practically and emotionally.

The test, run by the BBC's Lab UK, goes through money skills such as management of your finances, your money motivations, whether you are a liability with money, how you react emotionally to money and your knowledge of it.

Psychologists believe many more factors than just how much we know about money come into play when we make decisions.

They are interested in looking at our emotions, attitudes, beliefs and motivations, as well as our money habits.

The results

At the end of the test, MoneySavingExpert.com creator Martin Lewis helps you understand how you've fared using pre-recorded videos (see how he scored in Martin's Big Money Test blog, and his BBC blog on it).

He says: "While it's easy to think of money as a suited and booted practical problem, it's far more than that. It's an emotional subject that stretches into every area of our lives – families, relationships, stress levels, lifestyle and even mental health."And that's why the Big Money Test doesn't just examine your knowledge, but much more – then tells you how you faired and what you can do to improve."

The questions on your money knowledge were designed by MoneySavingExpert.com while the others were designed by Professor Adrian Furnham of University College London and Professor Mark Fenton O'Creevy of the Open University.

They will publish the results in a major academic journal and it is hoped those findings will help form government opinion when determining the need for better financial education.

The BBC stresses that users' responses will be anonymous.