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America's Grasp of Financial Literacy is Slipping

Financial literacy skills have taken a nose dive since the Great Recession

It’s been a decade since the Great Recession’s upheaval, and while some measures of Americans’ economic well-being have recovered like the unemployment rate, their financial literacy isn’t one of them.

Between 2009 and 2018, there was an 8% slip in the amount of people who could correctly answer most questions about interest rates, inflation, bond prices, financial risk and mortgage rates — from 42% to 34%.

That “clear trend of declining financial literacy” is one of the worrying signals in a three-year study from the FINRA Investor Education Foundation, the educational arm of the nonprofit organization regulating the brokerage industry.  Read more of MarketWatch's article here.

The PFW Scale™ is an effective metric to measure the impact of employee financial wellness programs. Click here to learn how your organization can benefit by using the Personal Financial Wellness Survey™

Striving to do better, sharing research and "what works best" strategies

The number of organizations working around the globe to provide and improve financial education and literacy is encouraging. It is also inspiring to learn from and share with our colleagues the latest research, data, and best practices in the field.  At PFEEF, we maintain an online library of the latest current articles and academic research on topics related to financial literacy and wellbeing.  Click here for some lite and not so lite summer reading from our trove of research that supports financial literacy. 

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