NFCC Annual Consumer Financial Literacy Survey

Introduction

Every year, the National Foundation for Credit Counseling (NFCC) conducts a survey to gain fresh insights into the latest consumer financial health trends and statistics. The survey tracks key data points that show trends associated with personal finance challenges and priorities, including retirement, savings, credit card debt, student loan debt, and more.

2022 Survey

The 2022 survey, conducted by Harris Poll on behalf of the NFCC and the Wells Fargo Foundation in November 2022, examined the financial health of the general population, active-duty households, and veterans. The survey revealed a disproportionate impact of inflation on military households, with heightened inflationary pressures in several key areas.

Key Findings

Inability to pay monthly bills such as cell phone and utilities:

Service members 22%,
General population 13%

Unable to find relief:

Service members 19%,
General population 11%

Missed at least one credit card or loan payment:

Service members 18%,

General population 11%

Missed at least one mortgage or rent payment:

Servicemembers 22%,
General population 7%

For more information about the survey findings, check out our Financial Literacy Month press release and our blog

For details about the survey and methodology, contact the NFCC