The news is out—Financial Practice Week is official, April 22 to 26. Developed by Dr. Erika Rasure, chief financial wellness officer and client therapist for Beyond Finance, the premise is awareness meeting action regarding personal finances and economic responsibility.
Since 2003, April has been Financial Literacy Month. Yet, in Dr. Rasure’s opinion, literacy doesn’t seem to be enough. Beyond Finance commissioned a national study with OnePoll and SWNS to validate that opinion, which was split evenly among various generations.
The findings revealed that people who understand basic financial knowledge and good money habits may be worse nationally than many consider.
Among the notes regarding America’s financial practice and literacy, we found a few things the national news is discussing.
- Nearly half (43%) of respondents don’t know what a 401(k) is.
- Only 30% believe they could win a game of personal finance trivia, despite 39% considering themselves more financially literate than the average person.
- Four in 10 Americans admit they procrastinate when implementing healthy financial habits.
- Only 66% of those who create a monthly budget stick to it–76% of Baby boomers are the most loyal to theirs, and 58% of Generation Z deviate most from theirs.
- And 39% of respondents reported adverse effects on their relationships due to their or their partner’s unhealthy spending habits.
The research is creating many stories across the country. Here are a few of the most significant.
Yahoo! Money
Over 40% of Americans have no clue what a 401k is
NOTE: Yahoo! made the most of the national poll and pasted the entire story with an accompanying graphic on the homepage of each of its following general hubs.
- Yahoo! News
- Yahoo! Lifestyle
- Yahoo! Sports
- Yahoo! Entertainment
- Yahoo! Finance
- Yahoo! World
- Yahoo! U.S.
- Yahoo! Science
- Yahoo! Politics
- Yahoo! Health
Yahoo! News (Spanish)
Casi la mitad de los estadounidenses no saben qué es un 401(k)
NOTE: Likewise, Yahoo! News captured a Spanish version of the story taken from Independent en Espanol and posted the article on the following international news hubs.
- World
- U.S. en Espanol
- Science
- Politics
- Health
- United Kingdom
- Australia
- Canada
- Malaysia
- New Zealand
- Phillippines
- Singapore
The average American doesn’t know what a 401K is
The results revealed a significant lack of confidence among respondents regarding their financial literacy, with only 30% believing they could win a game of personal finance trivia.
Over 40% of Americans have no clue what a 401k is
The survey examined Americans’ financial literacy, commitment to learning and adopting healthy money habits, and feelings regarding their bank accounts and financial futures.
Talker News National Network
Over 40% of Americans have no clue what a 401k is. A third (35%) also don’t know what “interest” is in a financial context.
This story has been captured on 187 U.S. syndicates of the Talker Network to date. Some of the U.S. and global markets include:
| Saipan Tribune (Northern Mariana Islands, U.S.) | Florida Keys News (Key West, FL) | Patriot Sentinel (Oklahoma City, OK) |
| Daily Journal (Marietta, GA) | Selma Sun (Selma, AL) | SF Weekly (San Francisco, CA) |
| Guam Daily Post (Tamuning, Guam) | Daily Herald (Killeen, TX) | Index-Journal (Greenwood, SC) |
Over 40% of Americans have no clue what a 401k is
The study, commissioned by Beyond Finance for Financial Practice Week and conducted by OnePoll, revealed that despite these startling knowledge gaps, only two in five respondents (39%) consider themselves more financially literate than others.
Clueless about retirement? 43% have no idea what a 401(k) is
In a startling revelation about America’s financial literacy, a new survey finds that nearly half of Americans still scratch their heads when it comes to understanding what a 401(k) is.
The average American doesn’t know what a 401K is
The survey examined Americans’ financial literacy, commitment to learning and adopting healthy money habits, and feelings regarding their bank accounts and financial futures.
El 43% de los estadounidenses no sabe qué es un 401(k).
Una nueva encuesta realizada por Beyond Finance y OnePoll de 2,000 adultos examinó sus hábitos monetarios, sus conocimientos y sus sentimientos hacia su futuro financiero.
NOTE: This is the primary Yahoo! en Espanol page, which differs from the above.
Casi la mitad de los estadounidenses no saben qué es un 401(k)
Una nueva encuesta de 2,000 adultos examinó sus hábitos monetarios, sus conocimientos y sus sentimientos hacia su futuro financiero
NBC NEWS (Local Affiliates)
Over 40% of Americans have no clue what a 401k is
NOTE: The Beyond Finance/SWNS Poll was placed in the NBC national feed so local affiliates could share the story with their viewers. The following markets have picked up the poll to date:
| KVPI (Pocatello, ID) | KULR (Billings, MT) | NBC Tri-Cities (Yamika, Kennewick, and Pasco, WA) |
ABC NEWS (Local Affiliates)
Over 40% of Americans have no clue what a 401k is
NOTE: The Beyond Finance/SWNS Poll was placed in the ABC national feed. The following markets have picked up the poll to date:
| KTBS (Shreveport, LA) | Delta News (Greenville, MS) | Montana Now (Missoula, MT) |
FOX NEWS (Local Affiliates)
Over 40% of Americans have no clue what a 401k is
NOTE: The Beyond Finance/SWNS Poll was placed in the FOX national feed. The following markets have picked up the poll to date:
| WFIX (Bangor, ME) | KCYU 11 & 41 (Yakima, WA) | KJNB (Fayetteville, AR) |
Local AM/FM Radio
Over 40% of Americans have no clue what a 401k is
NOTE: The Beyond Finance/SWNS Poll was placed in various radio conglomerate feeds (e.g., Cumulus, iHeart, FOX), and the following local radio stations have picked up the U.S. poll.
| News Center 1 (Rapid City, SD) | WFMZ-FM (Allentown, PA) | KMZU-FM (Carrollton, MO) |
| WLPO-FM (Oglesby, IL) | WFQX-FM (Winchester, VA) | |