The goal of the current study was to explore information search and processing differences between individuals who are less and more numerate in an attempt to better understand the mechanisms that might differentiate the choices they make. We did so using a computerized process-tracing system known as MouseTrace, which presented monetary gambles in an alternative x attribute matrix with outcome (dollar amount) and probability information as attributes. This information was initially occluded but could be revealed by clicking on the cell that contained the desired information. Beginning with nine gambles offering the chance of gaining or losing a specified amount, participants (N = 110) narrowed down the options (to three and then one) using an inclusion or exclusion strategy. Consistent with previous research, inclusion was a more effortful strategy, and individuals who were higher in numeracy were more likely to select prospects with the highest expected value. Process measures revealed these individuals expended more effort (i. e., attended to and sought out more information and processed it in greater depth) and exhibited more compensatory processing than those who were lower in numeracy, but this sometimes depended on whether one was asked to include or exclude. These results serve as further evidence that individuals with higher levels of numeracy often engage in more elaborative processing of the decision task, which tends to lead to more optimal choices. However, they also suggest that individuals are adaptive and that the specific situation can matter. Copyright (C) 2016 John Wiley & Sons, Ltd.