More than half of US adults failed to answer basic personal finance questions

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.AllNewsSportCultureLifestyle(Getty)A TIAA survey found that 51% of U.S. adults failed to correctly answer basic personal finance questions. Financial literacy in the U.S. has remained largely stagnant at low levels since 2017, with only a one percentage point increase in understanding since 2024. The lowest financial literacy scores were observed among women, Black Americans, Hispanic Americans, and Gen Z. The country's low financial understanding significantly impacts consumers, with financial illiteracy estimated to cost Americans $245 billion. TIAA proposes a three-part solution focusing on financial education, especially for younger consumers, targeted programs for low-scoring demographics, and improved comprehension of financial risk. In fullMore than half of Americans are not financially literate, survey findsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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