United States Ranked Low in Global Financial Literacy
A new study placed the U.S. 25th out of 27 countries, with many Americans relying on credit to cover living expenses.
Updated on Oct. 5, 2026 in Financial Planning
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The United States placed 25th out of 27 nations in a recent financial literacy study by Remitly. American participants achieved an average score of 72% on financial knowledge assessments.
Why it matters
The findings highlight a significant gap in financial education, as a majority of global respondents report relying on self-taught knowledge. This deficiency persists despite high levels of money-related anxiety and an increasing reliance on credit to manage daily costs.
American respondents answered 72% of questions correctly, with 56.2% correctly identifying currency conversion mechanics. Meanwhile, 46.1% of U.S. participants used credit to cover basic living costs over the past year.
The players
Remitly
Remitly is a digital financial services provider that conducts international research on economic trends and consumer behavior.
The details
The Remitly study surveyed over 5,000 people to test knowledge across interest rates, inflation, and cryptocurrency. Data shows 41.2% of Americans report frequent worry about money, while most global participants believe financial education should be mandatory for children.
Timeline
The study was published in October 2026.
Respondents reported using credit for living expenses over the past 12 months.
Participants indicated using AI tools for financial questions within the past year.
Market Dynamics
This report follows a pattern established by the OECD's PISA financial literacy assessment frameworks, which quantify competency gaps across national borders. The data signals a structural divergence between formal schooling and the practical economic skills required in a modern, digitized market.
The prevalence of financial knowledge gaps suggests that many retail investors may lack the fundamental understanding required for effective 401(k) or savings allocations. Improving individual literacy is essential for mitigating debt reliance and ensuring more stable long-term personal wealth management.
The takeaway
Developing a foundational understanding of interest rates and inflation can significantly reduce reliance on high-cost credit for basic living expenses. Individuals should consider supplementing their knowledge with reputable financial resources to gain greater control over their monthly budgets.
Further reading
Learn more about strategies for managing your budget in the Financial Planning section.
More information
Read the Full financial literacy study on the provider's official portal.
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