A new survey conducted by Morning Consult on behalf of the American Bankers Association Foundation found U.S. adults strongly support youth financial education being taught in schools. According to the data released today, nearly nine-in-10 consumers (87%) agree that financial concepts should be taught in high school and 72% believe they would be better off financially if they had learned the basics of personal finance at an earlier age.
Currently, only 10 of the 27 states that guarantee a standalone personal finance course for all high schoolers have fully implemented youth financial education while 17 are still in progress, according to the Next Gen Personal Finance live dashboard.
The survey also indicated that the plurality of consumers (38%) learn about money and financial concepts mainly from family, while only 15% selected school as the place they learned the most. Three-quarters of those surveyed (74%) rate their financial knowledge and ability to make informed decisions about money as “excellent,” “good,” or “very good.”
In recognition of April as Financial Literacy Month, the ABA Foundation and bankers across the country are mobilizing to meet this demand and bring financial education to classrooms nationwide.
“The survey results make clear that Americans understand the value of a solid financial education and the benefits it can have on their long-term financial well-being,” said Lindsay Torrico, executive director, ABA Foundation. “Unfortunately, access to financial education isn’t universal. That’s why the ABA Foundation and America’s banks are working together to share these important lessons with as many students as possible.”
The ABA Foundation offers three youth financial education initiatives including their Teach Children to Save campaign, which is a centerpiece of the banking industry’s longstanding commitment to youth financial education. For the past 100 years, the ABA Foundation has empowered banks to build long-term financial capability for Americans of all ages. Through free programs, training, consumer resources and campaigns the ABA Foundation helps banks and bankers build long-term financial security, promote revitalized and resilient communities, and advance economic opportunity for all.
The full results for today’s survey questions are as follows:
When asked “A 2024 report from the Global Financial Literacy Excellence Center found that the average American scored 48% on a financial literacy test, with only 16% of Americans scoring between 75-100% on the test. Do you agree or disagree that financial concepts should be taught in high school?”, consumers provided the following answers:
- Strongly agree – 64%
- Somewhat agree – 23%
- Somewhat disagree – 3%
- Strongly disagree -1%
- Don’t know/No opinion – 9%
When asked “Do you agree or disagree with the following statement? I would be better off financially if I had learned the basics of personal finance at an earlier age,” consumers provided the following answers:
- Strongly agree – 42%
- Somewhat agree – 30%
- Somewhat disagree – 11%
- Strongly disagree – 6%
- Don’t know/No opinion – 12%
When asked “Where did you learn the most about money/financial education concepts?” consumers provided the following answers:
- My bank (conversations, newsletters, etc.) – 9%
- Social Media -11%
- School – 15%
- Friends – 3%
- Family – 38%
- Books/Magazines – 5%
- TV – 4%
- Other, please specify – 5%
- Not sure – 9%
When asked “How would you rate your financial knowledge and ability to make informed decisions about money?” consumers provided the following answers:
- Excellent – 14%
- Very Good – 26%
- Good – 34%
- Fair – 15%
- Poor – 3%
- Don’t know/No opinion – 9%
About the Survey
This poll was conducted by Morning Consult on behalf of the American Bankers Association from March 21-23, 2025, among a national sample of 4,475 adults split into two representative groups for specific question sets (Split Sample A n=2,274 | Split Sample B n=2,203). The interviews were conducted online and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment, and region. Results from the full survey have a margin of error of plus or minus 1 percentage point.