In 2025, U.S. adults correctly answered only 47% of the 28 questions used to assess financial literacy, down from a high of 52% in 2020 and the lowest score in the decade since the survey began. 

Many people lack basic personal finance skills, which can have significant consequences for individuals and society. Faculty are addressing this issue by leading efforts to democratize financial education.

“Sometimes they'll bring in their tooth fairy money, or they'll just bring in change they found or they got for Easter,” Russell said. “We have quite a bit of students who deposit money.”

Finance expert Dr. Jeff Jones offers insights on managing personal finances better.