Monday, June 30, 2025

FICO® Scores Increased Amid Pandemic

Mon, 05 April 2021  |  consumers 

According to Experian research, the average FICO® Score hit a record high of 710 last year, a seven point increase from 2019. Several factors may have contributed to this improvement; the recent survey revealed almost a quarter of respondents checked their score more often than before the start of the pandemic, while many consumers surveyed (29%) took steps to prepare for a recession such as cutting back on spending, which remained consistent with those surveyed one year ago (at 32%). Respondents also paid off debt, with fewer carrying credit card balances (a decrease of 13%) and student... Read More

Many Americans Still Lack Critical Financial Knowledge

Mon, 05 April 2021  |  consumers 

Twenty-two percent of U.S. adults report they are unable to pay their bills in full and on time in a typical month, and 30 percent would not be able to cover an unexpected $2,000 expense, according to new data from the fifth annual Personal Finance Index (P-Fin Index) released by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business.

Results from the P-Fin Index indicate that a significant portion of American adults still s... Read More

Indicators Point To Strong Job Growth Ahead

Mon, 05 April 2021  |  economy 

On the heels of last week's strong job report from the Bureau of Labor Statistics (BLS), The Conference Board reported strong gains in it's Employment Trends Index^TM(ETI), up almost 8 percent compared to a year ago.

On Friday, the BLS reported total nonfarm payroll employment rose by 916,000 in March, and the unemployment rate edged down to 6.0 percent. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic. Job growth was widespread in March, led by gains in lei... Read More

One-Fourth Of Consumers Lack An Emergency Financial Plan

Thu, 01 April 2021  |  financial planning demographics 

No one would disagree that the recent pandemic has profoundly affected life as we know it, both from a personal and financial perspective. ScoreSense's study of over 1,000 consumers concerning preparing for emergencies revealed that, as people scramble to make ends meet, more than 6 in 10 consumers are happy with their emergency financial preparations, despite the results of those preparations.

The survey asked respondents about their financial preparedness for recent and future emergencies. Its findings include:

• 26% of consumers do not have a financial plan i... Read More

  Gen Z Lacks Knowledge and Confidence in Personal Finance

  Thu, 01 April 2021  |  demographics investing 

  Greenlight® Financial Technology, Inc. ("Greenlight"), released new findings from a national survey that shine a light on the state of financial literacy among teens. In honor of Financial Literacy Month, the survey aims to better understand the challenges and opportunities for teens to improve their financial knowledge.

  The results show that Gen Z is interested in personal finance and investing, but they lack confidence and want more financial education.

  Key insights include:

  Gen Z's personal finance confidence is low, but they're hungry to learn
  Read More

  Investors Lack Resources To Save For Retirement

  Thu, 01 April 2021  |  retirement investing 

  As COVID-19 continues to drive economic uncertainty, Americans are facing critical choices about how to invest and approach a financially secure retirement. A new survey conducted by Capital Group, home of American Funds, and one of the world’s leading investment management firms, finds that investors of all ages may lack the confidence, knowledge and resources needed to do just that.

  The research analyzes the sentiments and behaviors of 1,215 American adults amid the ongoing pandemic. While nearly 9 out of 10 investors find the predictability of a monthly “retirement paycheckâ€... Read More

  
  Prev  Next