CURRENCIES THE LEDGER The state of personal financial knowledge The National Foundation for Credit Counseling's most recent Financial Literacy Survey, conducted by The Harris Poll, details personal finance trends and sentiment among Americans. What's the general outlook on finances? 62% worry about finances 71% promptly pay their bills and have no debt in collection How much do they know? 85% of the general population say they are somewhat or very knowledgeable about... Their credit score Their household credit card debt The balance on the loans they have Why don't they seek professional help? 27% believe they can handle the problem on their own 13% 12% 11% don't know which agency to consult think credit counseling will be expensive Which kind of debt is most common? 47% Credit card 27% Mortgage 20% Auto loan worry it will negatively affect their credit 34% say " just getting by financially " describes them either exactly or very well 30% have a detailed plan for each household paycheck 75% of the general population say they could benefit from professional advice for everyday finances 12 // ICBA Independent Banker // February 2023 Source: The Harris Poll 2021 Financial Literacy and Preparedness Survey: Key Findings - General Population