1. The National Financial Capability Study
Third annual Financial Capability and Asset Convening Event
January 10, 2018
Gary R. Mottola

2. National Financial Capability Study (NFCS)
Monitor and better understand financial capability among adult (18+) Americans
Four components of financial capability
Three waves—2009, 2012, and 2015 (2018 wave in process)
National and Investor populations
Funded by the FINRA Foundation
Resources
“Understanding and Using Data from the National Financial Capability Study”
Family and Consumer Sciences Research Journal, 46(1), 2017
Mottola and Kieffer

3. Methodological Info Surveys designed by multidisciplinary teams
Surveys approx. 15 minutes in length
National sample size > 25,000, approx. 500 per state
State, regional, and national weights based on ACS
Investor sample size = 2,000 (weight available)
Online survey using non-probability panels and quota sampling
SPSS and CSV formats (with robust documentation)

4. Inside Info Survey is “wide and shallow”
Two-thirds of questions stable, one-third change wave to wave
Selected state oversamples (Municipal analysis is possible)
Public and “private” files available for free
Pre-packaged tracking data sets
NFCS in RAND American Life Panel
Coming soon—new education material and awards
Capture respondents’ money management cycle (sources of income, methods of receiving funds, participation in banking, methods of spending/bill paying)
Revise and update mortgage section
Additional debt questions 4

5. Selected NFCS Research
Populations Studied
Topics Examined
Millennials Renters Community College Students Retirees Investors Low Income households Native Americans
Financial Knowledge Student Loan Debt Financial Fragility Financial Advisor Usage Retirement Preparedness Credit Card Behavior AFS Usage Debt Investment Behavior
Capture respondents’ money management cycle (sources of income, methods of receiving funds, participation in banking, methods of spending/bill paying)
Revise and update mortgage section
Additional debt questions 5