Financial Literacy

The financial decisions of millennials—defined as individuals age 18 to 37 in 2018—will likely affect the U.S. economy for the next 30 years.

This report uses the third wave of the P-Fin Index to examine the current state of financial literacy and financial wellness among African-American adults.

Achieving and maintaining financial well-being is a goal of many individuals. Increasingly, it’s a goal employers have for their workforce, as well.

Can financial advice serve as an effective substitute for financial literacy? It all depends on the investor.

Can financial advice serve as an effective substitute for financial literacy? It all depends on the investor.

Many Americans lack the personal finance knowledge needed for sound financial decision making.

Millennials comprise 35% of the U.S. labor force and by 2019 are expected to surpass Baby Boomers as the nation’s largest generation. So their financial capability matters greatly to the U.S. economy.

Financial literacy undoubtedly plays an important role in decision making, but the associated mechanisms are complex and mediated by a variety of factors.

Financial knowledge has been shown to correlate strongly with financial outcomes. So what’s the state of the nation’s financial literacy?