The 2019 TIAA Institute-GFLEC Personal Finance Index: Results

Financial Literacy in the United States and Its Link to Financial Wellness

2019 P-Fin Index results

Many Americans lack personal finance knowledge that enables sound financial decision making. On average, U.S. adults answered 51% of the P-Fin Index questions correctly. In addition, there is close to a 50/50 split between those who were able to answer one-half of the index questions correctly (53%) and those who were not able to do so (47%) (Figure 1). Eighteen percent demonstrated a relatively high level of personal finance knowledge and understanding, i.e., they answered more than 75% of the index questions correctly, while 20% showed a relatively low level, i.e., they answered 25% or fewer of the questions correctly.

P-Fin Index Figure #1