Annual NFEC Survey: Poor Financial Literacy Carries $948 Price Tag for U.S. Adults

DALLAS, Dec. 29, 2025 /PRNewswire/ -- As the economic landscape continues to evolve, the National Financial Educators Council (NFEC) tracks whether Americans' financial health is keeping pace. One of the NFEC's annual surveys monitors the amount of money people lose due to a lack of personal finance knowledge and skill. The 2025 data show that the number can be quite significant – $948 per person, according to the latest findings.

The annual survey asks a sample of adults across the U.S. a single question: "During the past year (2025), about how much money do you think you lost because you lacked knowledge about personal finances?" Among the 1,200 individuals who responded to the survey conducted between December 24 and December 28, 2025, the average self-reported financial loss due to a lack of personal finance knowledge was $948.

The NFEC categorizes survey respondents into six age groups, calculates the average amount reported, and then estimates the total amount of money lost in the U.S. due to low personal finance knowledge, based on the US Census Bureau estimate of 260 million adult residents. In 2025, that calculation amounted to more than $246 billion in lost revenue.

See the full survey results here: https://www.financialeducatorscouncil.org/financial-illiteracy-costs/

In addition, 48.6% of survey participants reported that a lack of financial prowess cost them more than $500 in 2025, while 14.6% reported losing more than $2,500. The NFEC averages the total number of respondents choosing each response category and uses the lowest number in the range to calculate these findings.

Survey Methodology: Data was collected by Prodege, a leading consumer insights firm, via the Pollfish platform using targeted demographic criteria and real-time sampling across mobile apps and websites. Prodege ensures data quality through AI-driven screening and a rigorous validation process, supporting high standards of accuracy and reliability.

"Americans today need financial education more than ever before," comments Vince Shorb, CEO of the NFEC. "Financial illiteracy has become an epidemic in this country. We need to start teaching comprehensive financial education to children early in life, so that all Americans have the knowledge they need to make the financial decisions they'll face in the changing economic world. Our future depends on it."

The NFEC first fielded this survey in 2017 as part of its research to clarify the status of financial literacy in the country. The organization then leverages the results to advocate for greater economic empowerment. In the three previous years' surveys, Americans reported losing $1,819 in 2022, $1,506 in 2023, and $1,015 in 2024 due to a lack of personal finance knowledge. 

To further emphasize the urgent need to strengthen financial literacy standards in the U.S., the National Financial Educators Council (NFEC) points to recent data showing that total credit card debt in the United States surpassed $1.13 trillion in Q3 2024, according to the Federal Reserve Bank of New York. Additionally, studies show that most Americans are not financially prepared for retirement, with the Federal Reserve's 2023 report noting that 31% of non-retired adults have no retirement savings at all.

The National Financial Educators Council (NFEC) is a Certified B Corporation and Accredited Provider through IACET, the leading continuing education accreditation entity. The organization advocates greater financial health through its network of 26 Financial Educators Council state chapters and distributes financial wellness resources worldwide. Through its research efforts, the NFEC characterizes people's financial literacy in the U.S. and globally. In other research, the organization has identified strong links between personal finance capability and positive financial behaviors.

Contact:
Claudia Martins
702.620.3059
[email protected]

SOURCE National Financial Educators Council