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.
