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Business Wire
23 minutes ago
- Business
- Business Wire
FINRA Foundation Releases Sixth Wave of the National Financial Capability Study
WASHINGTON--(BUSINESS WIRE)--The FINRA Investor Education Foundation (FINRA Foundation) released today its sixth wave of the National Financial Capability Study, an expansive source of data and insights about the financial lives of U.S. adults that has been conducted every three years since 2009. Following a 12-year period of sustained improvements in many of the key areas of financial capability included in the National Financial Capability Study—from the Great Recession of 2009 through the COVID-19 pandemic—the latest findings reveal an overall pattern of decline in U.S. adults' ability to make ends meet and save for emergencies. While the comprehensive study shows no signs of overall declines in income, the findings show that increased costs have put more households under strain than in previous waves of the study. The findings also indicate what can be described as a 'struggle of the middle.' In many of the demographic breakdowns on measures of financial capability, the middle groups (those with annual household incomes between $25,000 and $75,000, those with some college education but no degree, and those between the ages of 35 and 54) appear to share many of the struggles of those in lower income households, without any college experience and younger cohorts. This is especially apparent in measures of difficulty making ends meet, the impact of higher food costs, setting aside emergency funds and engaging in expensive credit card practices. 'The 2024 National Financial Capability Study reveals a concerning shift in Americans' financial resilience. After more than a decade of improvements, we're seeing many households—particularly in middle-income brackets—struggling financially despite stable incomes. This 'struggle of the middle' signals that rising costs are creating financial strain across a broader segment of the population,' said Gerri Walsh, President of the FINRA Foundation. 'The FINRA Foundation's National Financial Capability Study serves as an important barometer of Americans' financial health. By tracking trends over time and exploring the nuances of financial behaviors and attitudes, this study identifies areas where more support and education can create positive impact,' said Jonathan Sokobin, FINRA Foundation Board Chair and Chief Economist at FINRA. 'This study is a vital resource that policymakers, researchers, educators, firms and financial professionals can use to better understand and address the financial capability needs of Americans.' The National Financial Capability Study focuses on four components of financial capability: Making Ends Meet. In contrast to the generally positive trends seen from 2009 through 2021, the 2024 data show substantial declines in many of the key measures of making ends meet. More U.S. adults report that they are spending more than their income, and fewer say they are satisfied with their overall financial condition. Two-thirds say that increased food costs have caused them to cut back on other spending. The sub-topics covered include: Covering expenses Feelings about personal financial condition Financial fragility Income shocks and income volatility Informal work activities Intergenerational wealth transfer Behavioral signs of financial stress Medical expenses Effects of inflation Severe weather and finances Planning Ahead. The percentage of U.S. adults who say they have set aside enough money to cover three months' worth of living expenses in case of an emergency dropped to 46 percent from 53 percent in 2021. The percentage saving for retirement varies greatly by education level: 80 percent of college graduates have a retirement account, in contrast to 37 percent of those with no college experience. In response to a new question, 20 percent of adults say they would be interested in getting financial advice from artificial intelligence. The sub-topics covered include: Rainy day funds Planning for retirement Saving for college Investing Risk preferences Financial self-efficacy Personal finance technology Artificial intelligence Managing Financial Products. Eighty-one percent of U.S. adults use their mobile devices to access their checking or savings accounts, and over half use mobile devices to make in-person purchases (53 percent) and to transfer money to other people (65 percent). The percentage of respondents saying they always pay their credit cards in full each month (53 percent) has decreased by six percentage points relative to 2021, ending the steady increase seen over the previous five waves of the National Financial Capability Study. Twenty-three percent say they have used Buy Now Pay Later services in the last 12 months. The sub-topics covered include: Banking and payment methods Home ownership and mortgages Credit cards Student loans Non-bank borrowing Buy Now, Pay Later Overall debt Credit scores Financial Knowledge. The percentage of respondents correctly answering at least four of five financial knowledge quiz questions has held steady since 2021. Men are more likely than women to answer the quiz questions correctly, though the gap appears to be closing with successive generations. The proportion of respondents who answer the inflation question correctly has increased by five percentage points relative to 2021, with the performance of those aged 18 to 34 improving by ten percentage points. The sub-topics covered include: Financial literacy Self-perceptions of financial knowledge and ability Financial education Related Information: In April, the FINRA Foundation previewed the state-by-state findings for financial knowledge and inflation from the National Financial Capability Study. NOTE: The FINRA Foundation will hold a virtual press conference about the sixth wave of the National Financial Capability Study at 11 a.m. E.T. today. Unauthorized use of the press conference video or audio is not allowed. Please reach out to media@ by 10:45 a.m. to register. About the National Financial Capability Study In 2009, the FINRA Investor Education Foundation launched the first national study of financial capability of adults in the United States. Since its start, the National Financial Capability Study has provided data on multiple indicators of capability—including financial behaviors, attitudes and knowledge. National Financial Capability Study survey data is collected every three years. The 2024 survey, conducted from June through October, represents the sixth wave of data. Each wave of the study has data from more than 25,500 U.S. adults across all 50 states and Washington D.C. (500 per state/D.C.), and findings can be reported at both the state and national level. The sixth wave has been updated to include new questions on timely topics, including inflation, artificial intelligence and Buy Now, Pay Later, borrowing, among other topics. This extensive body of data is available for free to the public and researchers. More information about the FINRA Foundation's National Financial Capability Study, including reports and data from previous waves of the study and interactive data visualizations, can be found here. About the FINRA Investor Education Foundation The FINRA Investor Education Foundation supports innovative research and educational projects that empower Americans with the knowledge, skills and tools to make sound financial decisions throughout their lives. For more information about FINRA Foundation research and education initiatives, visit About FINRA FINRA is a not-for-profit organization dedicated to investor protection and market integrity. FINRA regulates one critical part of the securities industry—member brokerage firms doing business in the U.S. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit
Mint
2 hours ago
- Automotive
- Mint
Nvidia CEO lavishes praise on China in Beijing, drawing rock-star reception
BEIJING : The head of America's most valuable company delivered a love letter to China while visiting Beijing, extolling the country's technological advances and praising its 'best-in-the-world" electric vehicles. Jensen Huang, chief executive of artificial-intelligence chip designer Nvidia, spoke a day after the Trump administration allowed the company to resume selling one of its advanced AI chips to Chinese customers. The decision, part of a trade truce in which China agreed to speed up exports of rare-earth minerals, opens the door for Nvidia to step up its business in China again despite criticism from some in Congress that giving expanded access to advanced U.S. technology could benefit Beijing's military and pose a national-security risk for America. Huang rejected such views at a news conference, which he interrupted from time to time so he could autograph Chinese reporters' clothing. 'There's always room in any house for two people, don't you think?" he said. The CEO said he was hoping to get approval to keep updating Nvidia's offerings for the Chinese market. He expressed confidence that his meetings with top officials in Beijing, including the vice premier, wouldn't bother President Trump. When he visited Trump last week, Huang said, the president 'was delighted to help celebrate a monumental day for Nvidia"—it became the first company to top $4 trillion in market capitalization—and 'was telling everybody about that." The CEO said he advised Trump that he was heading to Beijing and the president responded, 'Have a great trip." Huang has become a frequent visitor to both Washington and Beijing. Unlike most politicians and officials in Washington, Huang heaped praise on China while avoiding issues such as its military expansion. 'When you see me in the United States, you must think you went back in time. You wouldn't even understand my life—it's too strange," Huang said to a Chinese reporter's question, citing ubiquitous smartphone payments in China in comparison with Americans' continued use of cash. 'You are so advanced in technology adoption." Earlier in the day, Huang, who was born in Taiwan but is a U.S. citizen, swapped his signature leather jacket for traditional Chinese-style attire and delivered a speech at the opening ceremony of a government-backed business fair, partly in Chinese. 'China's supply chain is a miracle," Huang said. 'The heroes of China's superfast innovations are your researchers, developers and entrepreneurs." At the news conference, he took issue with U.S. policy under both the Biden and Trump administrations that has effectively barred imports of most Chinese EVs through high tariffs. He said he met the chief executive of Chinese EV and smartphone maker Xiaomi, whose EVs just hit the market last year and have already built up monthslong waiting lists. Xiaomi is a 'miracle of a company," he said. 'The technology inside is the best in the world." Asked by a Chinese reporter if he would buy one, Huang said, 'I would love to. It's unfortunately not available in the United States, but that's our misfortune, not yours." Write to Peter Landers at
Time of India
3 hours ago
- Entertainment
- Time of India
Rough times for broadcast networks illustrate changing landscape
New York: Two milestones revealed this week illustrate the diminishing power of broadcast television in the media world - one fuelled by the habits of young people and the other by their elders. During June, viewers spent more time watching streaming services than they did for broadcast and cable television combined. That happened for the first time ever in May, by a fraction of a percentage point, but the Nielsen company said on Tuesday that gap widened considerably in June. Also, for the third straight week, Nielsen said that Fox News Channel had more viewers in prime-time on weeknights than any of the main the broadcast networks ABC, CBS, NBC and Fox entertainment. For years, the mantra of media executives was that streaming represented the future for in-home entertainment. Now, that future has clearly arrived. Broadcast TV slips below 20 % of total In June, 46 % of Americans' TV time was spent on streaming services, led by YouTube and Netflix . Cable television networks represented 23.4 % and broadcast was 18.5 %, for a total of just under 42 %, Nielsen said. It was the first time broadcast TV had ever slipped below 20 % of total TV viewing. "It kind of felt like the right time," said Brian Fuhrer, Nielsen's senior vice president for product strategy and thought leadership. "A lot of people thought it would happen more quickly." The driving force in June was school ending for young people, meaning they had more time to watch TV, where Netflix series like "Ginny and Georgia" and "Squid Game" were big hits. Roughly two-thirds of people aged 6 to 17 watched streaming ahead of conventional TV, Nielsen said. In June 2024, the numbers were roughly reversed - 47.7 % of people were watching conventional TV in an average minute, with 40.3 % logged on to a streaming service. While the direction is clear, it's not a death knell for conventional TV. June and July are fallow months, and their viewing will increase when football season begins and original episodes of comedies and dramas return, Fuhrer said. Content is distributed over more platforms It's also not a strict either-or situation; media companies are doing a better job spreading their content out on different platforms to give viewers a choice, he said. The growth of YouTube, which many consumers can access for free and is a portal for "traditional" TV, has also fuelled streaming services. Fox News has occasionally eclipsed the broadcast networks in viewership before, but last week represented the seventh week it has done so in 2025, already more than 2024 and 2023 combined. It averaged 2.4 million viewers in prime time on weeknights last week, Nielsen said. Fox News is also taking advantage of what is traditionally the least-watched time of the year for broadcast networks, when summer nights and barbecues keep people outside. The difference this year is it has won a few weeks outside of the summer, during President Donald Trump's inauguration week in January, for example. Its audience - among the oldest of all television networks - tends to stay pretty steady throughout the year. (AP)
6 hours ago
- Entertainment
Rough times for broadcast networks illustrate changing media landscape
NEW YORK -- Two milestones revealed this week illustrate the diminishing power of broadcast television in the media world — one fueled by the habits of young people and the other by their elders. During June, viewers spent more time watching streaming services than they did for broadcast and cable television combined. That happened for the first time ever in May, by a fraction of a percentage point, but the Nielsen company said on Tuesday that gap widened considerably in June. Also, for the third straight week, Nielsen said that Fox News Channel had more viewers in prime-time on weeknights than any of the main the broadcast networks ABC, CBS, NBC and Fox entertainment. For years, the mantra of media executives was that streaming represented the future for in-home entertainment. Now, that future has clearly arrived. In June, 46% of Americans' TV time was spent on streaming services, led by YouTube and Netflix. Cable television networks represented 23.4% and broadcast was 18.5%, for a total of just under 42%, Nielsen said. It was the first time broadcast TV had ever slipped below 20% of total TV viewing. 'It kind of felt like the right time,' said Brian Fuhrer, Nielsen's senior vice president for product strategy and thought leadership. 'A lot of people thought it would happen more quickly.' The driving force in June was school ending for young people, meaning they had more time to watch TV, where Netflix series like 'Ginny & Georgia' and 'Squid Game' were big hits. Roughly two-thirds of people aged 6 to 17 watched streaming ahead of conventional TV, Nielsen said. In June 2024, the numbers were roughly reversed — 47.7% of people were watching conventional TV in an average minute, with 40.3% logged on to a streaming service. While the direction is clear, it's not a death knell for conventional TV. June and July are fallow months, and their viewing will increase when football season begins and original episodes of comedies and dramas return, Fuhrer said. It's also not a strict either-or situation; media companies are doing a better job spreading their content out on different platforms to give viewers a choice, he said. The growth of YouTube, which many consumers can access for free and is a portal for "traditional" TV, has also fueled streaming services. Fox News has occasionally eclipsed the broadcast networks in viewership before, but last week represented the seventh week it has done so in 2025, already more than 2024 and 2023 combined. It averaged 2.4 million viewers in prime time on weeknights last week, Nielsen said. Fox News is also taking advantage of what is traditionally the least-watched time of the year for broadcast networks, when summer nights and barbecues keep people outside. The difference this year is it has won a few weeks outside of the summer, during President Donald Trump's inauguration week in January, for example. Its audience — among the oldest of all television networks — tends to stay pretty steady throughout the year.
Boston Globe
11 hours ago
- Entertainment
- Boston Globe
Rough times for broadcast networks illustrate changing media landscape
For years, the mantra of media executives was that streaming represented the future for in-home entertainment. Now, that future has clearly arrived. Advertisement Broadcast TV slips below 20 percent of total In June, 46% of Americans' TV time was spent on streaming services, led by YouTube and Netflix. Cable television networks represented 23.4% and broadcast was 18.5%, for a total of just under 42%, Nielsen said. It was the first time broadcast TV had ever slipped below 20% of total TV viewing. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up 'It kind of felt like the right time,' said Brian Fuhrer, Nielsen's senior vice president for product strategy and thought leadership. 'A lot of people thought it would happen more quickly.' The driving force in June was school ending for young people, meaning they had more time to watch TV, where Netflix series like 'Ginny & Georgia' and 'Squid Game' were big hits. Roughly two-thirds of people aged 6 to 17 watched streaming ahead of conventional TV, Nielsen said. Advertisement In June 2024, the numbers were roughly reversed — 47.7% of people were watching conventional TV in an average minute, with 40.3% logged on to a streaming service. While the direction is clear, it's not a death knell for conventional TV. June and July are fallow months, and their viewing will increase when football season begins and original episodes of comedies and dramas return, Fuhrer said. Content is distributed over more platforms It's also not a strict either-or situation; media companies are doing a better job spreading their content out on different platforms to give viewers a choice, he said. The growth of YouTube, which many consumers can access for free and is a portal for 'traditional' TV, has also fueled streaming services. Fox News has occasionally eclipsed the broadcast networks in viewership before, but last week represented the seventh week it has done so in 2025, already more than 2024 and 2023 combined. It averaged 2.4 million viewers in prime time on weeknights last week, Nielsen said. Fox News is also taking advantage of what is traditionally the least-watched time of the year for broadcast networks, when summer nights and barbecues keep people outside. The difference this year is it has won a few weeks outside of the summer, during President Donald Trump's inauguration week in January, for example. Its audience — among the oldest of all television networks — tends to stay pretty steady throughout the year.
