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About the National Financial Capability Study

In 2009, the FINRA Investor Education Foundation launched the first national study of financial capability of adults in the United States. Since its start, the National Financial Capability Study (NFCS) has provided data on multiple indicators of capability — including financial behaviors, attitudes, knowledge, and access to financial products and services. It also contains rich demographic and geographic data that provides a robust understanding of how financial capability varies across demographic groups and geographic areas. NFCS survey data is collected every three years, and today encompasses five waves of data. The study continues to evolve — with each new wave adding new variables (in addition to existing ones), incorporating new samples, and asking questions that are pertinent to changing times.

Each wave of the NFCS State-by-State Survey has data from more than 25,000 U.S. adults across all 50 states and Washington D.C. Findings can be reported at both the state and national level. Data are available from 2009, 2012, 2015, 2018, and 2021, and collectively includes information on over 125,000 respondents.

Explore the 2021 NFCS Through Interactive Web Visualizations

Delve into the 2021 NFCS highlights. Learn more >>

See how financial capability varies by U.S. state. Read more >>

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Download the 2021 NFCS Report

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Download the 2021 NFCS Investor Report

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Interested in the Data?

Explore NFCS datasets, questionnaires, and data publications. Learn More >>

Financial Capability Insights: What the NFCS Reveals

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Read a series of issue briefs based on the NFCS exploring different aspects of financial capability and how these vary across key populations in the U.S.

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