Financial Literacy Month: 44 Percent of Americans Rely on Family and Friends for Money Advice
A 2026 survey by U.S. News and World Report found that about 44% of Americans rely on family and friends for financial guidance, while nearly 31% do not seek any financial advice at all. The findings, released during Financial Literacy Month in April, highlight persistent gaps in access to trusted financial education.
About 44% of Americans rely on family and friends for financial guidance, and nearly 31% do not seek any financial advice at all, according to the 2026 Financial Literacy Survey by U.S. News and World Report. The findings were released during Financial Literacy Month in April.
GreenPath Financial Wellness, a national nonprofit, highlighted the survey results as evidence of an urgent need for trusted financial education. The organization provided more than 121,000 free debt and housing counseling services in 2025.
The survey also found that 29% of consumers generally do not track their spending. That figure rises to 38% for individuals earning under $20,000 annually. Financial counselors say this lack of awareness makes it harder to save, increases reliance on credit, and weakens emergency preparedness.
The National Financial Educators Council found that over 88% of high school graduates believe financial education is as important as or more important than traditional core subjects. The average score on the NFEC's National Financial Literacy Test was 67.4%, with 42.4% of participants failing.
The U.S. Securities and Exchange Commission is observing Financial Literacy Month by promoting tools and resources on Investor.gov. The SEC's advice includes starting to invest early, living within one's means, and maintaining an emergency fund.
Michigan Governor Gretchen Whitmer issued a proclamation designating April 2026 as Financial Literacy Month in the state, emphasizing its importance for individual, family, and state well-being.
GreenPath recommends simple habits: reviewing spending weekly, setting a savings goal for an emergency fund, setting up auto-pay for bills, and making additional payments on debt.
