April 2022
Summary: The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) is an ongoing project now in its sixth year that annually assesses financial literacy among the U.S. adult population. The P-Fin Index is unique in its capacity to produce a robust measure of overall financial literacy plus a nuanced analysis of personal finance knowledge across eight areas in which individuals routinely function. The index relates to common financial situations that individuals encounter and can be viewed as a gauge of “working knowledge.” The P-Fin Index survey also includes indicators of financial well-being which enables examining the relationship between financial literacy and financial well-being.