Dollars and Sense: Financial Literacy in the U.S. (Infographic)

2 in 3 adults don’t prepare written or digital household budget.

Those who prepare budgets by educational level:

  • High school or less – 26%
  • College grads – 38%

Those who prepare budgets by political leanings:

  • Conservative – 35%
  • Moderate – 33%
  • Liberal – 29%

Those who prepare budgets by household income:

  • $75,000+ – 39%
  • $30,000-$75,000 – 30%
  • >$30,000 – 32%

Spending less compared to previous year:

  • 2009 – 57%
  • 2010 – 51%
  • 2011 – 42%
  • 2012 – 39%
  • 2013 – 32%

Only 3 in 10 Americans keep a long-term savings plan.

Adults who don’t pay all of their bills on time:

  • 2012 – 33%
  • 2013 – 26%

43% of U.S. adults  say not having enough in emergency savings is their biggest worry.

How financial stress affects everyday life:

  • Sleeping less – 47%
  • Less patience/seeing friends less often – 43%
  • Eating more junk food/gaining weight – 31%
  • Arguing more with spouse/significant other – 21%
  • Getting sick more often – 17%

81% of teens don’t have a checking account.

1 in 3 teens  have a summer job.

Only 1 in 10 teens are involved in helping pay household bills or manage household budget.

What teens say they already know about managing their money:

  • How to write a check – 60%
  • How to shop for the best deal – 66%
  • Difference between debit cards and credit cards – 60%
  • How to budget – 57%
  • How to establish good credit – 38%
  • How to balance a checkbook – 35%
  • How credit card interest and fees work – 31%
  • What a credit score is – 31%
  • How income taxes work – 22%
  • What a 401(k) is – 17%

Interested in personal finance topics:

  • Budgeting – 80%
  • Saving – 75%
  • Checking accounts – 68%
  • Investing – 67%

57% of parents with kids in high school or college give schools below-average grades in teaching responsible spending. 35% give schools an F in financial literacy.

States that require at least one high school course devoted to personal finance: Utah, Missouri, Tennessee.

SOURCES: 1 | 2 | 3 | 4 | 5 | 6 | 7

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