November 2016
Summary: The National Financial Capability Study (NFCS) is an ongoing study first conducted in 2009. It is commissioned and supported by the FINRA Investor Education Foundation, in consultation with the U.S. Department of the Treasury and the President’s Advisory Council on Financial Literacy. Its main objectives are the elicitation of key measures of financial capability among American adults, an assessment of how such measures evolve over time and with the business cycle and an evaluation of how they vary with demographic and attitudinal characteristics as well as with the level of financial literacy possessed by individuals….
This report provides a descriptive analysis of the financial capability of American adults based on a unique data set constructed by merging individual answers to the NFCS questionnaire with and extensive range of socio-economic status variables available, for each respondent, through other ALP surveys….