U.S. Financial Literacy Hits Record Low as Americans Answer Only 47 Percent of Basic Money Questions Correctly
The 2026 P-Fin Index, a decade-long tracking study, found that U.S. adults correctly answered an average of just 47 percent of 28 personal finance questions, the lowest score recorded in the survey's history. The decline comes despite growing federal investment in financial education programs.
American adults correctly answered an average of just 47 percent of 28 personal finance questions in the 2026 P-Fin Index, the lowest score recorded in the survey's 10-year history.
The P-Fin Index, produced by the TIAA Institute and the Global Financial Literacy Excellence Center, tracks financial knowledge across topics including debt management, investing, insurance, and retirement planning. The 2026 results represent a statistically significant decline from previous years.
The findings arrive at a moment when the federal government is investing more in financial education than it has in years. The "Trump Accounts" initiative, which provides $1,000 to every U.S. citizen child born between January 1, 2025, and December 31, 2028, is designed in part as a practical financial education tool. The Financial Literacy and Education Commission held a public meeting in February 2026 to coordinate how federal agencies would use the program to teach young people about compound growth and investing.
Despite those efforts, the gap between financial education policy and actual financial knowledge remains wide.
The National Endowment for Financial Education reports that more than half of U.S. states now require financial education for high school graduation. But researchers say the quality and depth of those courses varies significantly, and many students complete them without retaining the core concepts.
Anxiety about money is high. A survey found that 59 percent of Americans cited personal finances as a top source of anxiety in early 2026, the highest category among all stressors measured.
The TIAA Institute is calling for more rigorous, nationally standardized assessments to measure what students actually learn from financial education courses, rather than simply tracking whether courses are offered.
