Highlights From the FINRA Foundation National Financial Capability Study
Financial Capability in the United States
The proportion of homeowners
who reported being underwater
varies greatly by state, ranging
from 3 percent or less in New
Hampshire, South Dakota, and
North Dakota, to 12 percent
or more in Texas, Florida, and
Washington, D.C.
Homeowners underwater
(among homeowners)
14%
9%
2012
2015
9%
7%
2018
2021
Incidence of financial fragility (lack of capacity to deal with an unanticipated expense) in 2021 was
comparable to 2018 levels. When asked if they could come up with $2,000 if an unexpected need arose
in the next month, nearly a third of respondents (30 percent) said they probably or certainly could not.
However, the data show fewer U.S. adults reporting financial fragility compared to 2012.3
How confident are you that you could come up with $2,000
if an unexpected need arose within the next month?
I am certain I could not
come up with $2,000
20%
18%
18%
25%
I could probably not come
14%
12%
12%
up with $2,000
15%
I could probably come up
22%
23%
23%
with $2,000
21%
I am certain I could come
up with $2,000
39%
43%
43%
35%
2012
2015
2018
2021
Note: Individual bars do not sum to 100 percent because the percentage of respondents who answered "Don't know" or
"Prefer not to say" are not displayed.
For the first time since the NFCS began, more than half of respondents reported having set aside "rainy day"
funds to cover three months' worth of expenses in case of sickness, job loss, economic downturn, or other
emergencies. This percentage has increased steadily from 35 percent in 2009 to 53 percent in 2021.
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Have set aside three months' worth of emergency funds
46%
49%
53%
35%
40%
2009
2012
2015
2018
2021
Highlights From the FINRA Foundation National Financial Capability StudyView entire presentation