In 2024, Indonesia's financial literacy index was around ***** percent. Although the index has been increasing since 2013, the national financial literacy was still considerably low and indicates that there was still a substantial portion of the population who does not understand financial service providers, their products, features, advantages, and risks, which hinders the development of Open Finances. This measure consists of a survey to assess the level of knowledge, skills, confidence, attitudes, and behavior related to financial services and products.

As of February 2025, the financial literacy rate among Indonesians who completed university was the highest among other education levels, with a share of around ***** percent. In comparison, Indonesians who didn't complete elementary school had a financial literacy rate of **** percent.

Financial overview and grant giving statistics of Financial Literacy First

In 2022, Peruvian students reached the highest financial literacy score among the Latin American countries analyzed by the program for international student assessment (PISA), with ***. Brazil followed with a mean score of ***.

Financial overview and grant giving statistics of American Financial Literacy Council

Abstract

To educate consumers about responsible use of financial products, many governments, non-profit organizations and financial institutions have started to provide financial literacy courses. However, participation rates for non-compulsory financial education programs are typically extremely low.

Researchers from the World Bank conducted randomized experiments around a large-scale financial literacy course in Mexico City to understand the reasons for low take-up among a general population, and to measure the impact of this financial education course. The free, 4-hour financial literacy course was offered by a major financial institution and covered savings, retirement, and credit use. Motivated by different theoretical and logistics reasons why individuals may not attend training, researchers randomized the treatment group into different subgroups, which received incentives designed to provide evidence on some key barriers to take-up. These incentives included monetary payments for attendance equivalent to $36 or $72 USD, a one-month deferred payment of $36 USD, free cost transportation to the training location, and a video CD with positive testimonials about the training.

A follow-up survey conducted on clients of financial institutions six months after the course was used to measure the impacts of the training on financial knowledge, behaviors and outcomes, all relating to topics covered in the course.

The baseline dataset documented here is administrative data received from a screener that was used to get people to enroll in the financial course. The follow-up dataset contains data from the follow-up questionnaire.

Geographic coverage

Mexico City

Analysis unit

-Individuals

Universe

Participants in a financial education evaluation

Kind of data

Sample survey data [ssd]

Sampling procedure

Researchers used three different approaches to obtain a sample for the experiment.

The first one was to send 40,000 invitation letters from a collaborating financial institution asking about interest in participating. However, only 42 clients (0.1 percent) expressed interest.

The second approach was to advertise through Facebook, with an ad displayed 16 million times to individuals residing in Mexico City, receiving 119 responses.

The third approach was to conduct screener surveys on streets in Mexico City and outside branches of the partner institution. Together this yielded a total sample of 3,503 people. Researchers divided this sample into a control group of 1,752 individuals, and a treatment group of 1,751 individuals, using stratified randomization. A key variable used in stratification was whether or not individuals were financial institution clients. The analysis of treatment impacts is based on the sample of 2,178 individuals who were financial institution clients.

The treatment group received an invitation to participate in the financial education course and the control group did not receive this invitation. Those who were selected for treatment were given a reminder call the day before their training session, which was at a day and time of their choosing.

Mode of data collection

Face-to-face [f2f]

Research instrument

The follow-up survey was conducted between February and July 2012 to measure post-training financial knowledge, behavior and outcomes. The questionnaire was relatively short (about 15 minutes) to encourage participation.

Interviewers first attempted to conduct the follow-up survey over the phone. If the person did not respond to the survey during the first attempt, researchers offered one a 500 pesos (US$36) Walmart gift card for completing the survey during the second attempt. If the person was still unavailable for the phone interview, a surveyor visited his/her house to conduct a face-to-face interview. If the participant was not at home, the surveyor delivered a letter with information about the study and instructions for how to participate in the survey and to receive the Walmart gift card. Surveyors made two more attempts (three attempts in total) to conduct a face-to-face interview if a respondent was not at home.

Response rate

72.8 percent of the sample was interviewed in the follow-up survey. The attrition rate was slightly higher in the treatment group (29 percent) than in the control group (25.3 percent).

Financial overview and grant giving statistics of American Financial Literacy Association

Abstract

The survey on financial literacy among the citizens of Bosnia and Herzegovina was conducted within a larger project that aims at creating the Action Plan for Consumer Protection in Financial Services.

The conclusion about the need for an Action Plan was reached by the representatives of the World Bank, the Federal Ministry of Finance, the Central Bank of Bosnia and Herzegovina, supervisory authorities for entity financial institutions and non-governmental organizations for the protection of consumer rights, based on the Diagnostic Review on Consumer Protection and Financial Literacy in Bosnia and Herzegovina conducted by the World Bank in 2009-2010. This diagnostic review was conducted at the request of the Federal Ministry of Finance, as part of a larger World Bank pilot program to assess consumer protection and financial literacy in developing countries and middle-income countries. The diagnostic review in Bosnia and Herzegovina was the eighth within this project.

The financial literacy survey, whose results are presented in this report, aims at establishing the basic situation with respect to financial literacy, serving on the one hand as a preparation for the educational activities plan, and on the other as a basis for measuring the efficiency of activities undertaken.

Geographic coverage

Data collection was based on a random, nation-wide sample of citizens of Bosnia and Herzegovina aged 18 or older (N = 1036).

Analysis unit

Household, individual

Universe

Population aged 18 or older

Kind of data

Sample survey data [ssd]

Sampling procedure

SUMMARY

In Bosnia and Herzegovina, as is well known, there is no completely reliable sample frame or information about universe. The main reasons for such a situation are migrations caused by war and lack of recent census data. The last census dates back to 1991, but since then the size and distribution of population has significantly changed. In such a situation, researchers have to combine all available sources of population data to estimate the present size and structure of the population: estimates by official statistical offices and international organizations, voters? lists, list of polling stations, registries of passport and ID holders, data from large random surveys etc.

The sample was three-stage stratified: in the first stage by entity, in the second by county/region and in the third by type of settlement (urban/rural). This means that, in the first stage, the total sample size was divided in two parts proportionally to number of inhabitants by entity, while in the second stage the subsample size for each entity was further divided by regions/counties. In the third stage, the subsample for each region/county was divided in two categories according to settlement type (rural/urban).

Taking into the account the lack of a reliable and complete list of citizens to be used as a sample frame, a multistage sampling method was applied. The list of polling stations was used as a frame for the selection of primary sampling units (PSU). Polling station territories are a good choice for such a procedure since they have been recently updated, for the general elections held in October 2010. The list of polling station territories contains a list of addresses of housing units that are certainly occupied.

In the second stage, households were used as a secondary sampling unit. Households were selected randomly by a random route technique. In total, 104 PSU were selected with an average of 10 respondents per PSU. The respondent from the selected household was selected randomly using the Trohdal-Bryant scheme.

In total, 1036 citizens were interviewed with a satisfactory response rate of around 60% (table 1). A higher refusal rate is recorded among middle-age groups (table 2). The theoretical margin of error for a random sample of this size is +/-3.0%.

Due to refusals, the sample structure deviated from the estimated population structure by gender, age and education level. Deviations were corrected by RIM weighting procedure.

MORE DETAILED INFORMATION

IPSOS designed a representative sample of approximately 1.000 residents age 18 and over, proportional to the adult populations of each region, based on age, sex, region and town (settlement) type.

For this research we designed three-stage stratified representative sample. First we stratify sample at entity level, regional level and then at settlement type level for each region.

Sample universe:

Population of B&H -18+; 1991 Census figures and estimated population dynamics, census figures of refugees and IDPs, 1996. Central Election Commision - 2008; CIPS - 2008;

Sampling frame:

Polling stations territory (approximate size of census units) within strata defined by regions and type of settlements (urban and rural) Polling stations territories are chosen to be used as primary units because it enables the most reliable sample selection, due to the fact that for these units the most complete data are available (dwelling register - addresses)

Type of sample:

Three stage random representative stratified sample

Definition and number of PSU, SSU, TSU, and sampling points

• PSU - Polling station territory Definition: Polling stations territories are defined by street(s) name(s) and dwelling numbers; each polling station territory comprises approximately 300 households, with exception of the settlements with less than 300 HH which are defined as one unite. Number of PSUs in sample universe: 4710
• SSU - Household Definition: One household comprises people living in the same apartment and sharing the expenditure for food
• TSU - Respondent Definition: Member of the HH , 18+ Number of TSUs in sample universe: = 2.966.766
• Sampling points Approximately 10 respondents per one PSU, total 104

Stratification, purpose and method

• First level strata: Federation of B&H Republika Srpska Brc ko District
• Second level strata: 10 cantons 2 regions -
• Third level strata: urban and rural settlements
• Purpose: Optimisation of the sample plan, and reducing the sampling error

• Method: The strata are defined by criteria of optimal geographical and cultural uniformity

• Selection procedure of PSU, SSU, and respondent Stratification, purpose and method

• PSU Type of sampling of the PSU: Polling station territory chosen with probability proportional to size (PPS) Method of selection: Cumulative (Lachirie method)

• SSU Type of sampling of the SSU: Sample random sampling without replacement Method of selection: Random walk - Random choice of the starting point

• TSU - Respondent Type of sampling of respondent: Sample random sampling without replacement Method of selection: TCB (Trohdal-Bryant scheme)

• Sample size N=1036 respondents

• Sampling error Marginal error +/-3.0%

Mode of data collection

Face-to-face [f2f]

Research instrument

The survey was modelled after the identical survey conducted in Romania. The questionnaire used in the Financial Literacy Survey in Romania was localized for Bosnia and Herzegovina, including adaptations to match the Bosnian context and methodological improvements in wording of questions.

Cleaning operations

Before data entry, 100% logic and consistency controls are performed first by local supervisors and once later by staff in central office.

Verification of correct data entry is assured by using BLAISE system for data entry (commercial product of Netherlands statistics), where criteria for logical and consistency control are defined in advance.

Response rate

• Nobody at home: 2,8%
• Eligible person is not home: 2,8%
• Refusal : 32,79%
• Given up after a minimum of two visits: 0,82%
• Other (excluded after control): 0,29%
• Finished: 60,5%

The results show that 18% of EU citizens display a high level of financial literacy, 64% a medium level, and the remaining 18% a low level. There are, however, wide differences across Member States. In only four Member States, more than one quarter of citizens score highly in financial literacy (the Netherlands, Sweden, Denmark and Slovenia). The results also point to the need for financial education to target in particular women, younger people, people with lower income and with lower level of general education who tend to be on average less financially literate than other groups.

Processed data

Processed data files for the Eurobarometer surveys are published in .xlsx format.

• Volume A "Countries/EU" The file contains frequencies and means or other synthetic indicators including elementary bivariate statistics describing distribution patterns of (weighted) replies for each country or territory and for (weighted) EU results.
• Volume AP "Trends" The file compares to previous poll in (weighted) frequencies and means (or other synthetic indicators including elementary bivariate statistics describing distribution patterns of replies); shifts for each country or territory foreseen in Volume A and for (weighted) results.
• Volume AA "Groups of countries" The file contains (labelled) frequencies and means or other synthetic indicators including elementary bivariate statistics describing distribution patterns of (weighted) replies for groups of countries specified by the managing unit on the part of the EC.
• Volume AAP "Trends of groups of countries" The file contains shifts compared to the previous poll in (weighted) frequencies and means (or other synthetic indicators including elementary bivariate statistics describing distribution patterns of replies); shifts for each groups of countries foreseen in Volume AA and for (weighted) results.
• Volume B "EU/socio-demographics" The file contains (labelled) frequencies and means or other synthetic indicators including elementary bivariate statistics describing distribution patterns of replies for the EU as a whole (weighted) and cross-tabulated by some 20 sociodemographic, socio-political or other variables, depending on the request from the managing unit on the part of the EC or the managing department of the other contracting authorities.
• Volume BP "Trends of EU/socio-demographics" The file contains shifts compared to the previous poll in (weighted) frequencies and means (or other synthetic indicators including elementary bivariate statistics describing distribution patterns of replies); shifts for each country or territory foreseen in Volume B above)and for (weighted) results.
• Volume C "Country/socio-demographics" The file contains (labelled) weighted frequencies and means or other synthetic indicators including elementary bivariate statistics describing distribution patterns of replies for each country or territory surveyed separately and cross-tabulated by some 20 socio-demographic, socio-political or other variables (including a regional breakdown).

For SPSS files and questionnaires, please contact GESIS - Leibniz Institute for the Social Sciences: https://www.gesis.org/eurobarometer

In 2025, the literacy rate on insurance among Indonesians reached around ***** percent, showing a significant increase compared to 2022. In the same year, Indonesia's overall financial literacy index was about ***** percent.

The Financial Literacy market has emerged as a crucial sector in today's increasingly complex economic landscape. With consumers faced with a plethora of financial decisions, enhancing financial literacy has become essential for fostering sound financial behavior and informed decision-making. The market encompasses

Abstract

The Financial Literacy survey is part of a World Bank Financial Governance/Consumer Protection in Financial Services Program in ECCU5 Countries. The Program aims to improve the levels of consumer protection and financial literacy in these countries—and thereby strengthen consumer confidence in the financial sectors. To this end the World Bank commissioned to the Alpha Research a baseline national representative survey. The objective of the study is to assess the level of financial literacy and consumer confidence of households and to outline the peculiarities in different target groups prior to the implementation of the action plan for increasing the financial literacy of the general population and in particular of the lowincome groups.

Geographic coverage

National

Analysis unit

Household, Individual

Universe

A total of 1432 respondents from a general population (18+) were interviewed in their homes. Additional booster sample of 186 youth aged 16-17 was implemented.

Kind of data

Sample survey data [ssd]

Sampling procedure

Definition of sample size and sample frame

Sample size: based on statistical calculations in order to obtain max. standard deviation +/- 2.5% . - Main sample - 1500 respondents general population - Booster – 300 respondents 16-17 years old

Sample frame: random, two-staged stratified sample with probability, proportional to the size of the location. The sample include both urban and rural areas and is based on two stratification criteria: - NUTS region (6 regions – North-West, North-Central, North-East, South-West, South-Central, South-East) - Type of location (5 groups – Capital; Regional center with more than 100000 citizens, Regional center with less than 100000 citizens, Small town, Village)

Implementation of the sampling procedure

• All NUTS regions in Bulgaria have been ranged in descending order according to the size of the population.
• At the first stage the sample was distributed proportionally on the size of population in each of the 30 (6 NUTS X 5 type of location groups) strata different from zero.
• A cumulative column with the number of locations in each region was prepared. This cumulative column is used for defining the number of the sample points at the second stage of the sample and respectively – the number of the respondents in each location (proportionally to its’ size).
• The sample step was calculated according to the following formula: Sample step = Number of population in the region (N) divided on the number of respondents in the sample.
• A random starting number was defined.
• A number of 10 respondents in each sample nest have been set in order to minimize the influence of correlation error within the sample nest. The largest locations include a higher number of sample nests.
• The number of sample nests and the number of respondents in each location have been defined, proportionally to their size.
• At a second-stage, using the random selection based on the “last birthday in the household”, the respondents were selected within each sample point.
• The sample is representative for the adult population (18+).
• Additional sample booster of young people (16-17 years old) was prepared according to the same criteria.

Mode of data collection

Face-to-face [f2f]

Research instrument

• The questionnaire is based on the model Financial Literacy Survey questionnaire used in Romania in order to achieve comparison of the results between the countries.
• Questions from previous surveys on financial literacy issues conducted in Bulgaria have been included in the questionnaire as well. This allows comparison of the survey results with those of previous studies.
• The questionnaire was reviewed with the relevant institutions – Bulgarian National Bank, Ministry of Economy, Energy and Tourism, World Bank.

Response rate

A total number of 1800 respondents were reached and 1618 interviews were conducted:

• Main sample: total number of 1500 respondents were reached and 1432 were conducted:

  • Response rate – 95%
  • Refusal rate - 5%
  • Main reason for refusals: the length of interview

• Booster sample of young citizens aged 16 – 17 y.o.: total number of 300 respondents were reached and 186 interviews were conducted:

  • Response rate – 62%
  • Refusal rate – 38%
  • Main reason for refusals: the subject of the survey

The popularization of financial literacy has become a global trend, with governments across the world expressing commitment to continuously enhancing the financial literacy of their citizens to improve the country’s overall financial well-being. However, there is a lack of research evaluating the actual effects of financial literacy on Chinese households. This study first investigated the micro impact of financial literacy on the household stock profit level using data from the 2019 China Household Finance Survey. As most existing studies use factor analysis to measure financial literacy from a single dimension of financial knowledge, our study additionally used the entropy method to construct a composite evaluation system of financial literacy from four dimensions: financial skills, knowledge, attitudes, and behaviors. The ordinary least squares model was utilized as the primary regression model to estimate the correlation, and the average financial literacy of other households in the same community was selected as an instrumental variable. Further instrumental variable regression analysis was conducted using the two-stage least squares method. Three robustness tests were performed to ensure the reliability of the research findings. The results demonstrate that financial literacy significantly enhances household stock profit levels. The mediation effect analysis indicates that financial literacy affects stock profit levels through financial information attention. Moreover, financial literacy has a more substantial promoting effect on stock profit levels for households with members working for state-owned enterprises and those living in first-tier cities. This study confirms the value of financial literacy; identifies important channels for residents to increase their property income; and provides important guidance for the government, educational organizations, and financial institutions. This also injects more vigor into market participation to improve the persistently sluggish Chinese stock market.

Financial overview and grant giving statistics of Access Financial Literacy Education Association Inc.

This statistic presents the level of self assessed financial literacy in the United States in 2014, by investable assets. During the survey period, it was found that ** percent of the respondents with investable assets worth ******* U.S. dollars and more admitted that they were very financially literate.

Abstract

The survey is the follow-up of the Diagnostic Review on Consumer Protection and Financial Literacy conducted by the World Bank in 2008-2009. The Diagnostic Review in Romania was the fourth in a World Bank-sponsored pilot program to assess consumer protection and financial literacy in developing and middle-income countries.1 The objectives of this Review were three-fold to: (1) refine a set of good practices for assessing consumer protection and financial literacy, including financial literacy; (2) conduct a review of the existing rules and practices in Romania compared to the good practices; and (3) provide recommendations on ways to improve consumer protection and financial literacy in Romania. The Diagnostic Review was prepared at the request of the National Authority for Consumers' Protection (ANPC), whose request was endorsed by the Ministry of Economy and Finance. Support was provided by the National Bank of Romania (BNR), which supervises banks and non-bank credit institutions. Further assistance was given by the supervisory commissions for securities (CNVM), insurance (CSA) and private pensions (CSSPP).

The Diagnostic Review found that the basic foundations needed for consumer protection and financial literacy are in place in Romania but they benefit from further strengthening support. The Review proposes improvements in six areas: consumer awareness, information and disclosure for consumers, professional competence, dispute resolution, financial education and financial literacy surveys.

Consequently, in 2010 the World Bank commissioned a nation-wide survey of the levels of financial literacy. A consultant (sociologist Manuela Sofia Stanculescu) developed the survey methodology (sampling methodology and questionnaire) in line with the Financial Literacy Survey in Russia (the World Bank, 2008) and the baseline survey Financial Capability in the UK (Financial Services Authority, 2005).2 The final form of the questionnaire was agreed with representatives of the National Bank of Romania (BNR), the Romanian Banking Institute (IBR), the National Authority for Consumers' Protection (ANPC), and the Financial Companies Association in Romania (ALB). The Institute for World Economy (Romanian Academy) collected the data in May 2010.

The main objective of this work is the establishment (and later the evaluation) of a well targeted national program of financial education.

Geographic coverage

National

Analysis unit

Household, individual

Universe

Non-institutionalized persons aged 18 or older

Kind of data

Sample survey data [ssd]

Sampling procedure

The sample of the survey is probabilistic, two-stage, stratified, representative at national level with an error of +/- 3% at a 95% confidence level.

The sample is based on two stratification criteria: (i) historical region (8 regions) and (ii) type of locality (7 types depending on the city size, in urban areas, and on the synthetic index of community development,4 in the rural ones).

The sample volume is 2048,5 out of which 148 cases represent a boost of persons aged 16, 17 or those had their 18th birthday after November 2009.6 Respondents were randomly selected from electoral registers corresponding to 185 voting sections (randomly selected), located in 141 localities (77 communes, 63 towns/cities and the capital Bucharest).

The sample includes a slight over-representation of men, rural respondents, and elderly particularly due to the boost of young but also to the fact that people left abroad concentrate among the 25-44 age category. Nevertheless, the sample fairly reproduces the structure (by gender, age categories and area of residence) of the country population 16+ years according to the data for 2009 provided by the National Institute for Statistics. Socio-demographic structure of the sample is presented in table 3 of the survey report.

Demographic data and data regarding the use of financial services were collected for all members of respondents? households. In the respondents? households live 5406 persons overall. This extended sample has also a slight over-representation of rural respondents and an under-representation of children (0-14 years) and persons 25-24 years (most probably young people who left abroad with children).

MORE INFORMATION ON THE SAMPLING METHODOLOGY

Sample volume: 2,200 non-institutionalized persons aged 18 or older. In addition, the sample will be boosted with 180 persons aged 16-18 years old. Overall, at least 2,000 valid questionnaires should be completed during fieldwork.

Type of the sample: Probabilistic, two-stage, stratified, representative at national level, with an error of +/- 2.8% at a 95% confidence level.

Stratification criteria: The sampling scheme is based on two stratification criteria

(a) Historical region (8 regions) (b) Type of locality, with 7 theoretical strata

i. Urban areas - 4 strata 1. very small towns under 30 thou inhabitants 2. small towns 30,001-100 thou inhabitants 3. medium cities 100,001-199 thou inhabitants 4. large cities 200 thou inhabitants or more

ii. Rural areas - 3 strata determined based on the synthetic index of community development 37 1. poor communes (the 30% communes with the lowest level of development within the country) 2. medium developed communes 3. developed communes (the 30% communes with the highest level of development within the country).

Sampling stages: The sampling scheme includes two stages.

Sampling units: There are two sampling units corresponding to the two sampling stages. In the first sampling stage, voting sections are selected and in the second stage, non-institutionalized persons aged 18 years or more.

Selection: Random selection in all sampling stages.

Sampling scheme: In the first stage the sample is distributed proportionally with the volume of population for each of the 56(= 8 x 7) theoretical strata different from zero.

The corresponding number of voting sections for each strata is determined taking into account on the one hand, the volume of each strata sub-sample (= sample size x share of total population in that strata) and, on the other hand, a minimum level of 10 questionnaires for each sampling point. The voting sections which will represent sampling points are then randomly selected based on the exhaustive national list of voting sections (the latest available from the Permanent Electoral Authority).

The sample has 188 sampling points (voting sections) of which 104 are in urban areas, and 84 are in rural localities, including the capital city.

For each sampling point is computed the number of corresponding questionnaires by dividing the strata sub-sample by the number of sampling points of that strata. In the second sampling stage, the electoral registers corresponding to the voting sections (selected as sampling points) are used as sampling frame. Non-institutionalized persons aged 18 or more are randomly selected from the electoral registers based on the mechanical step method.

In those localities where the electoral registers are not available (or the municipality do not grant access), the random route method will be used. All these cases will be specified and explained in the fieldwork report, except for Bucharest, where the random route method will be used for all voting sections, as the rate of replacement from electoral registers is high in all national representative surveys.

The electoral registers include only persons 18 years or more. Accordingly, the sample will include a boost of persons aged 16, 17 or persons that had their 18th birthday after November 2009.39 For each voting section, one person aged 16-18 years will be added. They will be selected based on the random route method.

Mode of data collection

Face-to-face [f2f]

Response rate

The overall response rate of the survey is 95.2%. More detailed information is provided in "Table 2 Response rates and quality of the sampling frame by sampling method (%) " of the survey report.

Personal Finance Education Market Outlook

According to our latest research, the global market size for Personal Finance Education reached $1.82 billion in 2024. The market is demonstrating robust momentum, expanding at a CAGR of 7.6% during the forecast period. By 2033, the market is projected to attain a value of $3.54 billion, fueled by the growing recognition of financial literacy as a crucial life skill, the integration of digital learning platforms, and increasing regulatory mandates for financial education in schools and workplaces. This growth trajectory highlights the sector’s vital role in empowering individuals across all age groups to make informed financial decisions, manage debt, and plan for long-term financial well-being.

One of the primary growth factors propelling the Personal Finance Education Market is the escalating complexity of financial products and services. As consumers encounter a broader array of investment options, credit products, and digital banking solutions, the need for comprehensive financial education becomes imperative. The proliferation of fintech innovations, such as cryptocurrencies and decentralized finance, has further accentuated the gap in financial knowledge. Consequently, educational institutions, employers, and financial service providers are increasingly investing in tailored financial literacy programs to equip individuals with the skills necessary to navigate these evolving financial landscapes. This trend is particularly pronounced among younger demographics, who are entering the workforce with limited exposure to personal finance concepts but face significant financial decisions related to student loans, credit management, and retirement planning.

Another significant driver is the widespread adoption of technology-enabled learning platforms. The digital transformation of education has revolutionized the delivery of personal finance education, making it more accessible, engaging, and customizable. Online courses, mobile applications, and interactive tools have democratized access to financial literacy resources, enabling users to learn at their own pace and according to their unique needs. The COVID-19 pandemic accelerated this shift, as remote learning became the norm and organizations sought scalable solutions for educating diverse populations. This digital shift has also facilitated the integration of gamification, personalized feedback, and real-time progress tracking, which have proven effective in enhancing learner engagement and retention in personal finance education programs.

Regulatory initiatives and public-private partnerships are also playing a pivotal role in market expansion. Governments and regulatory bodies across several regions are mandating the inclusion of financial literacy in school curricula and workplace training programs. These policies are designed to address pressing societal issues such as rising consumer debt, inadequate retirement savings, and financial vulnerability. In parallel, collaborations between educational institutions, financial institutions, non-profits, and private companies are fostering the development and dissemination of high-quality financial education content. These joint efforts are enabling the creation of standardized frameworks, assessment tools, and certification programs, further professionalizing the field and ensuring consistent learning outcomes.

From a regional perspective, North America leads the global Personal Finance Education Market, accounting for more than 38% of the total market share in 2024. This dominance is attributed to strong regulatory support, high digital adoption rates, and a mature ecosystem of financial education providers. Europe and Asia Pacific are also witnessing substantial growth, driven by rising awareness of financial literacy, expanding middle-class populations, and government-led initiatives. While Latin America and the Middle East & Africa currently represent smaller shares of the market, these regions are expected to exhibit above-average growth rates over the forecast period, spurred by increasing smartphone penetration and targeted financial inclusion programs.

Delivery Method Analysis

The Delivery Method segment of the Personal Finance Education Market is characterized by a diverse array of channels, each catering to different learning preferences and accessibility needs. Online courses have emerged as the most significant delivery mechanism, capturing a substantial share of the market d

Financial overview and grant giving statistics of Financial Literacy Institute I

Descriptive statistics for complete cases.

Gorbachev, Olga, and Luengo-Prado, Maria, (2019) "The Credit Card Debt Puzzle: The Role of Preferences, Credit Access Risk, and Financial Literacy." Review of Economics and Statistics 101:2, 294-309.