Survey: Financial Education would Benefit Lives More than all Currently Offered Coursework Combined

The NFEC asked 8,633 people in 3 separate surveys a simple question “What high school-level course would benefit your life the most?” The results – people chose money management more than all other choices combined.

In the latest survey conducted between July 15th and 17th 2017 young Americans aged 18 to 24 in 49 out of 50 states across the country agree that financial literacy is the study topic that would benefit their lives more than other high school courses.

In a March 2017 released survey, respondenfts of 6 different age groups each with 400 respondents or more chose money management (54.13%) more often than math, science, and social studies combined. Between March 21 and 22, 2016, 1,101 18-24 year-olds across the United States selected money management 51.4% of the time.

Survey Question

What high school-level course would benefit your life the most?

Available Choices Were:

July 2017 Survey: 5,123 18 – 24 Year Old Respondents in All 50 States

Young Americans aged 18 to 24 in 49 out of 50 states across the country agree that financial literacy is the study topic that would benefit their lives more than other high school courses. In a survey conducted between July 15th and 17th 2017 the National Financial Educators Council asked 5,123 young adults (at least 100 respondents in each state), “What high school-level course would benefit your life the most?” Respondents chose money management more often than math, science, and social studies.

Scroll Over Map to See Individual State Results:

50 State Average:

50%

49.97% selected “Money Management (Personal Finance)

18%

18.25% selected “Mathematics (Algebra, Geometry)

14%

14.43% selected “Social Studies (History, Government)

17%

17.35% selected “Science (Biology, Chemistry)

March 2017 Survey: 2,409 People in 6 Different Age Groups

In a March 2017 released survey, the National Financial Educators Council asked 2,409 people across the United States the question, “What high school-level course would benefit your life the most?” Respondents of 6 different age groups each with 400 respondents or more chose money management (54.13%) more often than math, science, and social studies combined.

The survey was conducted online, answers were randomized and inferred demographic data was used. Statistically significant results were produced – a 99% confidence interval and less than a 4% margin of error. The goal of the survey was to measure people’s opinions about the value of personal finance education relative to other coursework commonly offered by high schools.

Vince Shorb, the NFEC’s CEO, comments, “Schools should teach subjects that will benefit students’ lives the most; but funding is needed to do so. The Consumer Financial Protection Bureau’s annual financial literacy report shows that the federal government invests just $230 million per year into financial literacy programming, while STEM (science, technology, engineering, math) subjects are funded at $3 billion per year. About 8% of graduates will land a STEM-based job, while 100% of graduates would benefit from a financial education and the financial service space represents over 7% of jobs.”


Aged 18-24

0
400 Respondents

Percentage Answering
Money Management
(Personal Finance)

51.0%

Percentage Answering
Mathematics
(Algebra, Geometry)

17.8%

Percentage Answering
Science
(Biology, Chemistry)

16.0%

Percentage Answering
Social Studies
(History, Government)

15.3%


Aged 25-34

0
405 Respondents

Percentage Answering
Money Management
(Personal Finance)

50.4%

Percentage Answering
Mathematics
(Algebra, Geometry)

18.8%

Percentage Answering
Science
(Biology, Chemistry)

13.8%

Percentage Answering
Social Studies
(History, Government)

17.0%


Aged 35-44

0
401 Respondents

Percentage Answering
Money Management
(Personal Finance)

59.1%

Percentage Answering
Mathematics
(Algebra, Geometry)

15.2%

Percentage Answering
Science
(Biology, Chemistry)

12.2%

Percentage Answering
Social Studies
(History, Government)

13.5%


Aged 45-54

0
401 Respondents

Percentage Answering
Money Management
(Personal Finance)

55.1%

Percentage Answering
Mathematics
(Algebra, Geometry)

20.0%

Percentage Answering
Science
(Biology, Chemistry)

12.0%

Percentage Answering
Social Studies
(History, Government)

13.0%


Aged 55-64

0
400 Respondents

Percentage Answering
Money Management
(Personal Finance)

55.0%

Percentage Answering
Mathematics
(Algebra, Geometry)

17.3%

Percentage Answering
Science
(Biology, Chemistry)

11.5%

Percentage Answering
Social Studies
(History, Government)

16.3%


Aged 65+

0
402 Respondents

Percentage Answering
Money Management
(Personal Finance)

54.2%

Percentage Answering
Mathematics
(Algebra, Geometry)

18.4%

Percentage Answering
Science
(Biology, Chemistry)

10.2%

Percentage Answering
Social Studies
(History, Government)

17.2%

April 2016 Survey: 1,011 18 – 24 Year Old Respondents

Between March 21 and 22, 2016, 1,101 18-24 year-olds across the United States responded to a financial literacy survey conducted by the NFEC to assess young adults’ feelings regarding high school level-courses that would benefit their lives. This online survey produced statistically significant results with a 99% confidence interval and a less than 4% margin of error.  [additional financial literacy statistics]

This is the first age-specific survey conducted by the NFEC and sponsored by DreamCatcher Wealth Management and The Minerva Foundation as part of a series of financial literacy testing, polls, research, and interviews that explore financial attitudes and behaviors. The survey asked respondents to answer the following question: “Which of four high school level-courses would benefit your life most?”

high school course survey graph 1

survey sponsors

Survey Sponsors

The survey was sponsored by DreamCatcher Wealth Management and The Minerva Foundation for Financial Literacy, whose founder Stan T. Webb is author of the book Optimize Your Wealth. Stan is a financial literacy advocate who works throughout the US helping to advise and educate individuals of all ages about the mystical world of Money.  Stan conducts employee financial wellness programs and serves the community by providing support and education to youth groups. Through better education and guidance, and inspiring positive change he feels we can greatly reduce poverty and spread greater financial well being.

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