Latest Financial Literacy Research & Data
The NFEC’s commitment to conducting financial literacy research to gain a deeper understanding of personal finance topics helps the industry obtain empirical data and professional opinions about this important subject matter. Using demand- and supply-side surveys, research, and think tanks, the NFEC gathers data and illuminates best practices to share with others in the financial literacy industry.
The NFEC’s financial literacy research is focused on 3 core areas: 1) Development of standards and best practices for teaching personal finance, 2) Establishing educational outcomes and clear educational barometers for learners, and 3) Identifying and open sourcing overall strategies that guide financial literacy initiatives. Below you will find some of the NFEC’s financial literacy research and best practices data.
Latest Financial Literacy Survey Data
The National Financial Educators Council conducts financial literacy surveys, studies, and research and hosts think tanks around topics related to financial education. We also curate the latest research and data on financial education. The objective is to gather empirical data and discover best practices to share with others in the financial literacy industry.
Financial Problems & Consequences Data
Get well-versed in the problems people can experience if they lack capability to make qualified financial decisions. A vast array of such problems can occur and they can be severe. Understanding this information will help you better communicate with others about the need for financial competence.
Research on the Childhood Influencers of an Individual’s Finances
Personal financial problems have reached epidemic proportions and the consequences are potentially severe. So what’s the root cause of those problems? You will learn the answer in this next section, where we explore how people’s upbringing affects their financial situations and the challenges they face trying to overcome these problems as adults.
Adult Influencers of an Individual’s Finances
As you learned, financial behaviors, sentiment, knowledge, and management systems start forming in childhood and are often established as habits by the time a person reaches adulthood. The problem here is that, once habits form, they are hard to change.
Financial Literacy Statistics
Financial literacy statistics have made it abundantly clear that an illiteracy epidemic is pervasive around the world. Such startling statistics are hard to dispute and shift the burden of proof to the skeptics. The research and data demonstrate that a majority of individuals do not possess the financial expertise they need to make healthy financial choices that will benefit them in the long run.
Best Practices Research in Financial Education
The NFEC sets benchmarks for the financial education and coaching industry that will assist providers to become more effective and competent in helping individuals work toward financial wellness. The NFEC guidelines for professionals and learners set industry standards and give public assurance that educators and resources meet the highest standards for quality.
Financial Illiteracy Data
Americans and other societies throughout the world have a shared problem: financial illiteracy is pervasive in cultures around the globe. This epidemic threatens to undermine people’s lives. Bad financial planning not only undermines individual lives, but often is responsible for eroding family cohesion and relationships.
Research on Importance of Financial Literacy
There is little question that a sizable proportion of our nation’s citizens lack full capacity to handle their money effectively. Get the research and data that describes why financial literacy is important and the benefits it gives people to help them manage their money and plan for the future.