Case for Making Financial Education as Essential as Math or Science Has Never Been Clearer

Data Shows Financial Illiteracy Is Delaying Retirement and Driving Debt

Access to Workplace Financial Education Influences Where Two-Thirds of Americans Choose to Work

A new national survey commissioned by IRALOGIX, the retirement industry’s leading fintech provider, reveals a striking public demand for early financial education: 60% of Americans say they would have better money habits today if schools had taught them the basics. Despite the real-world importance of budgeting, credit, saving, and investing, most adults say they entered adulthood financially unprepared – and they’re still paying the price.

The October 2025 survey found that 52% never received a financial literacy class in school, and even among those who did, only a third found it genuinely helpful. As a result, many Americans are navigating adulthood with money regrets, costly financial missteps, and a lingering sense that they’ve been left to figure things out alone.

“This survey confirms what we’ve known anecdotally for years: Americans aren’t struggling with money because they lack discipline; they’re struggling because they never had the chance to learn the basics,” said Peter de Silva, CEO of IRALOGIX. “More than half the country never had a single financial literacy class in school. That’s not just an educational oversight; it’s a national failure – one with real-world consequences, from rising debt to delayed retirements. The need for school-based financial education couldn’t be clearer, and yet at the federal level, there’s still no real willingness to take it on. In my view, this is a national crisis, and no one’s listening.”

Among the survey’s key findings:

• Financial Knowledge Feels Inherited, Not Taught
  
  62% of respondents say financial literacy is closely tied to family wealth, with lifelong money lessons often learned at the kitchen table, not in the classroom. In fact, 69% say they first learned about money from a parent or guardian. But 1 in 3 never had those conversations at all, creating a significant early divide based purely on the household you grew up in.

• Americans Know They’re Paying for What They Weren’t Taught
  
  58% had to dip into retirement savings or go into debt due to a lack of emergency funds. That’s more than half the country facing financial strain at critical moments – not because of overspending, but because a safety net wasn’t there when they needed it. The finding points to a broader reality: emergency expenses don’t just create short-term stress; they can derail long-term plans like homeownership, education, or retirement.

• Most Americans Never Had a Personal Finance Class
  
  52% of respondents say they never received a financial literacy class in school. And among those who did, only 33% found it “very helpful.” The result? For millions, some of the most important life skills – how to budget, save, manage credit, or plan for retirement – were never formally taught at all. Financial education remains optional in most school systems, even though its real-world impact is anything but.

• Missed Money Lessons Are Delaying Retirement for Millions
  
  46% of Americans expect to work past age 65, and not because they want to. Many point directly to the lack of financial education early in life as the reason they couldn’t save enough or plan ahead. Without the tools to build long-term financial security, people are forced to extend their working years just to stay afloat. For nearly half the country, missing those early money lessons isn’t just a short-term setback, it’s completely reshaping what retirement looks like.

• Who’s Supposed to Teach This Stuff?
  
  49% believe financial education should come from parents, while 32% say it’s the school’s responsibility. That split reveals a larger problem: no one is officially accountable, and as a result, millions of Americans enter adulthood with no formal training and no safety net. Financial literacy is essential, but it’s treated like an optional lesson, not a shared priority. Until there's clarity on who owns it, too many people will continue to miss it entirely.

• Financial Literacy Starts Surprisingly Young
  
  37% say they picked up their first money lessons before age 10, twice as many as any other age group. That means financial behaviors are already taking shape in childhood, well before most schools or institutions step in. As adults, many now see the gap: 31% wish they’d learned how to invest and grow wealth, and 27% wish they’d understood how credit scores work. The lessons people need most aren’t reaching them when they need them most, and the long-term costs are catching up with them.

• Financial Literacy Is Becoming a Job Perk – But Most Workplaces Aren’t Delivering
  
  Two-thirds of Americans say access to financial education now influences how they choose an employer, putting it on par with essential benefits like healthcare and retirement plans. Workers increasingly see money knowledge as essential to their overall well-being. But the workplace isn’t keeping up: 58% have never taken part in a financial wellness program at work, pointing to either a lack of access, engagement, or both.

Other findings include:

• Lack of Education Leads to Lifelong Regret
  
  32% say their biggest money mistake was credit card debt, and most believe it was preventable with better education. 45% didn’t understand how credit worked when they got their first credit card, and for many, the first real “lesson” came in the form of interest charges. Credit scores, in particular, were a major blind spot. Other regrets include missed investing opportunities (20%), waiting too long to build retirement savings (13%), and student loans (10%).

• Confidence in Financial Skills Is Low
  
  48% of Americans feel less financially prepared than their peers. Even among earners and savers, many feel like they’re still behind. It’s less about the numbers and more about mindset – and a lot of people feel like they’re losing.

• Younger Generations Aren’t Better Off
  
  41% say Gen Z and younger Millennials are less financially prepared, despite having more access to financial advice online than any previous generation. The gap is especially striking considering how digitally connected these generations are. If financial literacy could be solved by content alone, Gen Z would be the most financially savvy generation yet. But the data suggests otherwise – digital tools are only as useful as the knowledge behind them.

• A $1,000 Windfall Isn’t a Bonus, It’s a Lifeline
  
  32% would use a surprise $1,000 to pay down debt. 31% would save it. Very few (12%) saw it as discretionary spending money, underscoring how tight finances are for many. That may not sound surprising, until you consider what it reveals: for a large portion of the population, even a modest financial boost isn’t an opportunity to get ahead, but a way to catch up. In a financially healthy system, an extra $1,000 might be used to invest, learn, or enjoy. But for millions, it’s not optional income – it’s survival.

“Financial education isn’t a nice-to-have; it’s a must-have,” said de Silva. “We need to stop treating it like an optional add-on and start recognizing it as a core life skill that’s just as critical as math or reading. That means integrating it early into school curricula, reinforcing it in the workplace, and making sure every American has access to the tools and knowledge to build lasting financial security.”

Methodology

The survey was conducted online in October 2025 on behalf of IRALOGIX. Respondents, who skewed 54% female to 46% male, were drawn from a national sample. To schedule an interview, or for a copy of the full survey results, please contact Scott Sunshine.

About IRALOGIX™

IRALOGIX is modernizing the $18 trillion IRA market with fully digital, customizable retirement solutions that work for everyone – from the smallest to the largest institutions. Our cloud-based technology allows financial organizations to offer efficient, paperless IRAs under their own brand, without operational complexity or high costs. Designed to integrate seamlessly with your business, IRALOGIX supports both in-house teams and leading third-party providers. The result: a scalable, flexible platform that helps institutions grow, serve more clients, and stay competitive in an evolving retirement landscape. Learn more at www.iralogix.com.

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LACK OF FINANCIAL EDUCATION IN SCHOOL HAS LIFELONG COSTS, MAJORITY OF AMERICANS SAY