1.**Financial Literacy in Adults**: Only 57% of American adults are considered financially literate, according to the Global Financial Literacy Excellence Center (GFLEC).
2. **Youth Financial Literacy**: Only 22 states in the U.S. require high school students to take a personal finance course, as reported by the Council for Economic Education.
3. **Emergency Savings**: A 2023 Bankrate survey found that 57% of Americans are unable to cover a $1,000 emergency expense.
4. **Credit Card Debt**: The Federal Reserve reports that the average U.S. household carries a credit card debt of $6,473.
5. **Financial Anxiety**: A FINRA Investor Education Foundation study reveals that 60% of adults feel anxious when thinking about their personal finances.
6. **Budgeting**: A survey by U.S. Bank found that only 41% of Americans use a budget to track their finances.
7. **Retirement Readiness**: The National Institute on Retirement Security states that 66% of Millennials have nothing saved for retirement.
8. **Student Loans**: According to the Federal Reserve, the total U.S. student loan debt surpasses $1.7 trillion.
9. **Financial Education Gaps**: The OECD reports that students in countries that mandatorily teach financial education perform better in literacy tests.
10. **Wealth Inequality**: The top 1% of Americans hold 31% of the nation’s wealth, as found by the Federal Reserve.
11. **Economic Anxiety**: A survey by the American Psychological Association notes that 72% of Americans feel stressed about money at least some time.
12. **Basic Financial Concepts**: According to S&P’s Global Financial Literacy survey, only 33% of adults worldwide are able to answer basic financial literacy questions.
13. **Retirement Savings**: The Employee Benefit Research Institute states that 45% of Americans have saved nothing for retirement.
14. **High-Interest Loans**: The Pew Charitable Trusts found that 12 million Americans use payday loans annually, often incurring exorbitant interest rates.
15. **Child Financial Education**: A University of Cambridge study shows that financial habits are formed by age seven.
16. **Unbanked Households**: The FDIC reports that approximately 5% of U.S. households are unbanked, lacking any form of checking or savings account.
17. **Investing Knowledge**: A Schwab survey highlighted that 69% of Americans find investing confusing and intimidating.
18. **Gender Disparity in Finance**: The Global Financial Literacy Survey indicates women are more likely to lack financial knowledge compared to men.
19. **Wealth Building**: The National Bureau of Economic Research found that financial literacy is significantly correlated with wealth accumulation and asset management.
20. **Debt Management**: The NFCC’s Financial Literacy Survey reports that 60% of adults have not reviewed their credit score in the past year.
21. **Financial Security for Seniors**: The National Council on Aging shows that more than 25 million older Americans are living at or below the federal poverty level.
22. **Parental Influence on Finance**: A T. Rowe Price survey indicates 69% of parents are hesitant to discuss finances with their children.
23. **Homeownership**: The U.S. Census Bureau notes that the homeownership rate for young adults (under age 35) is only 38%.
24. **Insurance Illiteracy**: LIMRA states that a third of consumers feel they lack enough knowledge to understand their life insurance needs.
25. **Financial Literacy Programs**: A study by the Federal Reserve Bank of Cleveland suggests effective financial education programs can reduce government assistance reliance.
26. **Poverty and Education**: The Economic Policy Institute reports that children in poverty who do not receive financial education are less likely to break the poverty cycle.
27. **Investment Participation**: The Federal Reserve’s Survey of Consumer Finances shows only 55% of American families invest in the stock market.
28. **Interest Rate Misunderstanding**: An OECD study highlights that nearly 50% of adults can’t calculate simple interest rates.
29. **Retirement Account Access**: The U.S. Bureau of Labor Statistics states only about 47% of private sector workers are covered by employer-based retirement plans.
30. **Saving Habits**: A JPMorgan Chase report indicates that those without financial education are more likely to have no savings at all.
31. **Debt Disparities by Race**: The Urban Institute reports that Black households are twice as likely to hold student debt compared to White households.
32. **Generational Wealth Gap**: Pew Research Center observes that Baby Boomers hold more than half of the U.S. household wealth, while Millennials hold only 5%.
33. **Health and Wealth Connection**: The American Heart Association found that financial stress is linked to poor health outcomes and increased risks of heart disease.
34. **Financial Scams**: The Federal Trade Commission reported a 30% increase in financial scam complaints in 2022, primarily impacting those with low financial literacy.
35. **Savings Vehicle Awareness**: The National Foundation for Credit Counseling highlights that many adults cannot identify the benefits of different types of savings accounts.
36. **Debt Collection**: A report by the Consumer Financial Protection Bureau states that one in three U.S. adults with a credit report has an account in collections.
37. **Technology and Finance**: According to a Samsung survey, 79% of teens learn about money management through mobile apps and online resources.
38. **Financial Goals**: A Prudential study shows that only 46% of adults set financial goals, which correlates with higher financial satisfaction and security.
39. **Tax Literacy**: The IRS notes that nearly 40% of taxpayers do not fully understand their tax obligations, leading to missed refunds or tax liabilities.
40. **Financial Education Impact**: A FINRA study emphasizes that financial education in high school reduces the likelihood of carrying high-cost credit in adulthood by 30%.
These statistics paint a clear picture of the challenges and gaps in financial literacy and security across different populations.
REFERENCES USED / 40 CITATIONS PER DATA POINT ABOVE
1. **Global Financial Literacy Excellence Center (GFLEC) Reports**
2. **Council for Economic Education’s Annual Survey of the States**
3. **Bankrate’s Annual Financial Security Index**
4. **Federal Reserve’s Consumer Credit Reports**
5. **FINRA Investor Education Foundation Studies**
6. **U.S. Bank’s Financial Insights**
7. **National Institute on Retirement Security’s Research Reports**
8. **Federal Reserve’s Reports on Student Loans**
9. **OECD’s Programme for International Student Assessment (PISA)**
10. **Federal Reserve’s Distribution of Wealth in the U.S.**
11. **American Psychological Association’s Stress in America Report**
12. **S&P Global Financial Literacy Survey**
13. **Employee Benefit Research Institute’s Retirement Confidence Survey**
14. **Pew Charitable Trusts’ Financial Products Research**
15. **University of Cambridge’s Study on Habit Formation**
16. **FDIC’s National Survey of Unbanked and Underbanked Households**
17. **Schwab’s Modern Wealth Survey**
18. **Global Financial Literacy Survey by S&P**
19. **National Bureau of Economic Research**
20. **National Foundation for Credit Counseling (NFCC) Survey**
21. **National Council on Aging**
22. **T. Rowe Price Parents, Kids & Money Survey**
23. **U.S. Census Bureau’s Housing Vacancy Survey**
24. **LIMRA’s Insurance Barometer Study**
25. **Federal Reserve Bank of Cleveland Research**
26. **Economic Policy Institute’s Reports on Education**
27. **Federal Reserve’s Survey of Consumer Finances**
28. **OECD Financial Literacy Studies**
29. **U.S. Bureau of Labor Statistics’ National Compensation Survey**
30. **JPMorgan Chase Institute Reports**
31. **Urban Institute’s Racial Disparities in Debt Studies**
32. **Pew Research Center’s Generational Wealth Gap Reports**
33. **American Heart Association’s Health and Wealth Studies**
34. **Federal Trade Commission’s Consumer Sentinel Network Reports**
35. **National Foundation for Credit Counseling Studies**
36. **Consumer Financial Protection Bureau’s Debt Collection Survey**
37. **Samsung Insights on Teens and Technology**
38. **Prudential’s Financial Wellness Census**
39. **Internal Revenue Service (IRS) Annual Reports**
40. **FINRA’s National Financial Capability Study**
