Survey Finds U.S. Financial Literacy at Lowest Level in a Decade

1-Minute Brief

Declining financial literacy may affect Americans' ability to make informed economic decisions and manage personal finances.

Key Facts

• A TIAA-Stanford University survey found a decline in Americans' ability to answer basic financial questions.
• More than half of Americans are not financially literate, according to the survey.
• Americans’ understanding of financial concepts has never exceeded 52 percent.
• The survey measured knowledge of basic financial concepts among U.S. adults.
• The current financial literacy level is at a 10-year low.

What Happened

A recent TIAA-Stanford University survey reported a decrease in Americans' financial literacy, with fewer people able to answer basic financial questions correctly.

Why It Matters

Lower financial literacy rates may impact individuals' capacity to manage money, save, invest, and plan for the future, potentially affecting broader economic stability.

What's Next

Experts may call for increased financial education efforts or policy interventions to address the decline in financial literacy.