Financial Wellness Survey
For the latest in empirical data and opinions from thought leaders on financial literacy topics, consult the National Financial Educators Council’s financial wellness survey. In collaboration with its professional team, the NFEC performs research and consults with a core of experts to share information and best practices with the industry, media representatives, and the public. For example, their financial literacy survey studies have examined how people’s behavior and attitudes affect their money management capability. They also have asked respondents to indicate who they turn to for financial advice.
Learn the Outcomes of the Financial Wellness Survey
In July 2017, the NFEC asked young adults across the US to complete a financial wellness survey regarding, “What high school-level course would benefit your life the most?” A total 5,123 individuals aged 18-24, representing 49 of 50 states and at least 100 respondents from each state, filled out the financial education survey, saying “money management” would be most beneficial.
Another personal finance survey question was, “During the past year, about how much money do you think you lost because you lacked knowledge about personal finances?” People who completed the survey said they’d lost an estimate of $1,171 last year on average, and 6.8% said they lost more than $10,000.
NFEC Has Financial Wellness Surveys for Participation
If you’re interested to conduct a survey to measure results of a financial education program, the NFEC can help. They can guide you to develop a financial wellness survey to assess the students’ financial situations, sentiments, behaviors, and willingness to make behavioral change. The goal of the surveys is to understand where program participants currently are so you can select the best educational pathways for them. You can avoid self-report bias in financial literacy test results by setting clear benchmarks for improvement and measuring them empirically.
