Statistics 2026
Financial Literacy Statistics 2026 - Key Facts and Trends
In a rapidly shifting economic landscape, understanding money is no longer just a 'nice-to-have' skill - it is a critical safety net for the next generation. While 88% of adults support requiring financial education in high schools, data from 2026 reveals that barely half of U.S. adults can answer basic questions about interest, inflation, and risk. For parents and educators, these numbers are a call to action: identifying the gaps today is the first step toward building a financially secure tomorrow for our children.
Key Takeaways
- Financial literacy has flatlined: Only 49% of U.S. adults correctly answered basic financial questions in 2025.
- Gen Z is struggling the most: Young adults (18-29) scored just 38% on financial literacy tests, the lowest of any generation.
- Education is expanding but unequal: 29 states now require financial education, but only 31% of teens report actually having access to a course at their school.
- The cost of ignorance is high: Lack of financial knowledge cost the average American an estimated $948 in 2025.
- Public support is overwhelming: 83% of adults believe their state should require a personal finance course for high school graduation.
The Big Picture: Financial Literacy in 2026
49% →
of U.S. adults correctly answered basic financial literacy questions
This figure has remained stagnant, hovering around the 50% mark for nine consecutive years.
Despite a growing menu of financial apps and resources, the core financial knowledge of American adults has not improved significantly in nearly a decade. The 2025 P-Fin Index reveals that on a 28-question test covering earning, saving, investing, and insuring, the average adult scored just 49%. This stagnation suggests that while access to information has increased, true comprehension remains a challenge for families.
Financial Literacy Scores by Generation (2025)
| Generation | Average Score (% Correct) |
|---|---|
| Gen Z (Ages 18-29) | 38% |
| Millennials (Ages 30-44) | 46% |
| Gen X (Ages 45-60) | 51% |
| Baby Boomers (Ages 61+) | 55% |
47% ↓
of Americans grade their own money skills as 'C' or lower
Low confidence often correlates with lower literacy scores.
Financial literacy increases with age, but even the most experienced generation (Baby Boomers) answers barely half of basic money questions correctly.
Financial Education in Schools
29 States ↑
guarantee a standalone personal finance course for high schoolers
As of August 2025, these states have passed legislation requiring a dedicated course for graduation.
The push for mandatory financial education is gaining undeniable momentum. In just a few years, the number of states guaranteeing a standalone personal finance course has grown significantly. Parents are a major driver of this change: a 2025 poll found that 83% of U.S. adults believe their state should require a semester- or year-long personal finance course for graduation.
Public Support for Financial Education (2025)
| Sentiment | Percentage |
|---|---|
| Believe state should require a course | 83% |
| Wish they had been required to take a course | 82% |
| Say their high school did NOT offer a course | 61% |
Source: National Endowment for Financial Education (NEFE) (2025)
Access to Guaranteed Financial Education by State Implementation (Top 5)
There is a massive gap between demand and reality: 82% of adults wish they had taken a finance class, yet 61% report their school never offered one.
The Cost of Financial Illiteracy
What we don't know literally costs us. The impact of low financial literacy isn't just academic; it hits families in their bank accounts through high interest, overdraft fees, and fraud. In 2025, the average American lost nearly $1,000 directly due to a lack of financial knowledge.
$948 ↑
Estimated average loss per person in 2025 due to lack of financial knowledge
Losses stem from high interest, fees, and fraud.
Financial Struggles by Literacy Level
| Financial Struggle | Likelihood for Low Literacy vs. High Literacy Adults |
|---|---|
| Constraint by Debt | 2x more likely |
| Financially Fragile (unable to find $2,000) | 3x more likely |
| Spend 20+ hours/week on money issues | 8x more likely |
Source: WealthWave: The Financial Literacy Emergency of 2026 (2025)
Does financial literacy actually reduce debt?
Yes. Adults with very low financial literacy are 2 times more likely to say debt prevents them from handling other priorities compared to those with high literacy. Furthermore, students from states with mandated financial education have been shown to have higher credit scores and lower delinquency rates on credit cards.
Financial stress is a time tax: those with low literacy are 8 times more likely to spend 20+ hours a week dealing with money problems.
Demographic Gaps and Equity
Financial literacy is not distributed equally. Significant gaps persist across gender and racial lines, often reflecting systemic disparities in access to education and wealth. For example, women consistently score lower than men on financial literacy indices, a gap that researchers attribute partly to lower confidence levels - women are disproportionately likely to select 'do not know' on surveys.
Financial Literacy Scores by Demographic
Source: WealthWave: The Financial Literacy Emergency of 2026 (2025)
1 in 5
Women score below 25% on financial literacy tests
Compared to 1 in 7 men who score in this lowest quartile.
Why is there a gender gap in financial literacy?
The data suggests a mix of knowledge and confidence. Men generally score 56% on average compared to women at 46%, but nearly 25% of women select 'I don't know' on tests compared to 20% of men. This indicates that building financial confidence is just as important as building skills.
Access to financial education is an equity issue: Black and Hispanic adults score roughly 15 percentage points lower than White and Asian adults, highlighting a critical need for inclusive community resources.
Student Perspectives and Digital Trends
Today's students are eager to learn, but they are navigating a digital minefield of 'finfluencers' and complex products like crypto. While 68% of teens say they would take a financial literacy course if offered, only 31% report having access to one. They are turning to social media to fill the gap, which comes with its own risks.
68%
of teens would eagerly enroll in a financial literacy course
However, only 31% report having access to such a course at their school.
Source: Junior Achievement USA (2024)
Teen Financial Interests and Concerns
| Topic | Stat |
|---|---|
| Interested in Career/Entrepreneurship Courses | 60% |
| Likely to take course on Paying for College | 41% |
| Gen Z able to understand Cryptocurrency | 54% |
Source: Junior Achievement USA (2024)
Are kids learning about money from TikTok?
Increasingly, yes. Nearly 70% of Gen Z adults turn to platforms like TikTok or YouTube for money advice. While this engages them, the quality varies wildly, making it essential for parents to help them vet these sources against credible information.
There is a 'desire gap' in education: 68% of teens want to learn about money, but less than a third say their schools offer the opportunity.
Common Questions from Families
When should I start teaching my child about money?
Start early. Intuit's educational outreach suggests that developing personal finance standards at the elementary and middle school levels is a best practice to ensure a healthy money mindset. Waiting until high school may be too late to form foundational habits.
Does my state require financial education?
It depends on where you live. As of August 2025, 29 states guarantee a standalone personal finance course for high schoolers. States like Utah, Wisconsin, and Nebraska are top performers in ensuring student access, while others like California are still in the early stages of implementation.
How do I know if my teenager is financially literate?
Look at their understanding of risk. The 2025 P-Fin Index shows that 'comprehending risk' is the weakest area for Gen Z, with only 36% of related questions answered correctly. If your teen doesn't understand concepts like investment risk or inflation, they likely have a literacy gap.
What Families and Educators Can Do
What Parents Can Do
- Start the conversation early. Don't wait for high school; research supports introducing concepts in elementary school to build a 'healthy money mindset' before bad habits form.
- Vet their digital diet. Since nearly 70% of Gen Z learns from social media, watch the videos they watch and discuss which advice is credible and which is risky 'finfluencer' hype.
- Advocate for your school. With 83% of adults supporting state requirements, use your voice at school board meetings to ask for standalone personal finance courses if your district doesn't offer them.
What Educators Can Do
- Integrate, don't just add on. Even if a standalone course isn't mandated, incorporate financial examples into math (interest rates) or social studies (economic history) lessons.
- Use free, high-quality resources. Organizations like the CFPB and Next Gen Personal Finance offer free curriculums and 'lesson playlists' that can be used in advisory periods or seminars.
- Focus on risk and safety. Data shows Gen Z scores lowest on 'comprehending risk.' Prioritize lessons on identifying scams, understanding high-interest debt, and digital security.
The data from 2026 is a wake-up call, but it also highlights a path forward. We know that financial education works - states with mandates see better credit scores and lower delinquency rates among young adults. By closing the gap between the 68% of teens who want to learn and the 31% who can, we can equip a generation not just to survive the economy, but to thrive in it.
Sources (7)
- 1. TIAA Institute-GFLEC Personal Finance Index (2025) https://www.tiaa.org/public/about-tiaa/news-press/press-releases/2025/06-09
- 2. National Endowment for Financial Education (NEFE) (2025) https://www.nefe.org/news/2025/04/poll-majority-of-us-adults-want-financial-education-in-high-schools.aspx
- 3. Intuit Financial Literacy Ranking by State (2025) https://www.intuit.com/blog/global-stories/financial-literacy-ranking-by-state/
- 4. Junior Achievement USA (2024) https://jausa.ja.org/news/blog/teens-want-financial-literacy-education-but-many-schools-don-t-offer-it
- 5. Carry: How Financially Literate Is America (2025) https://carry.com/learn/how-financially-literate-is-america-key-stats
- 6. WealthWave: The Financial Literacy Emergency of 2026 (2025) https://wealthwave.com/allison/blog/the-financial-literacy-emergency-of-2026
- 7. WalletHub Financial Literacy Survey (2025) https://carry.com/learn/how-financially-literate-is-america-key-stats
