2015SOCIAL MEDIA STATE OF FINANCIAL LITERACY

53Facebook46

Overall* Mean

DEMOGRAPHICOVERVIEW

AGE IN YEARS

Overall refers to the participants surveyed across Facebook, Twitter, Reddit, and Linkedin.

Facebook had the oldest respondents compared to the other social sites.

GENDER

55%

of Facebookusers arefemale

GENDER

45%

of Facebookusers aremale

Could you bene�t from meeting with a �nancial advisorand would you be willing to pay?

FINANCIAL ADVICE

How likely are you to pay to meet with a financial advisor?

I could benefit from some adviceand answers to everyday financial questions from a professional.

11%

Undecided

23%

Likely

29%

Neutral

19%

Disagree

66%

Unlikely

53%

Agree

53% of Facebook users have talkedto a financial professional regarding savings and investment.

Which of the following areas of personal �nance do you worry about?

FINANCIAL WORRIES

30% of Facebook users do not have financial worries!

24% of Facebookusers are concerned about losing their jobs.

24%

30%

Facebook users are the least likelyto be worried about retiring without

enough money set aside.

If you were having �nancial problems related to debt, how likelywould you be to do the following in order to reduce your debt load?

APPROACH TOHANDLING DEBT

of Facebook users are not likely tohold off saving for retirement when facing debt.

of Facebook users are willing to take on a second job to handle their debt.

49%

46%

of Facebook users are not likely to reduce the amount of money they are investing when facing debt.

45%

75% of Facebook users have tried to figure out how much they need to save for retirement. 75%

Have you taken any steps to control your �nances?

PRODUCT OWNERSHIPAND PREPAREDNESS

71% of Facebook users have set aside emergency cash funds. 71%

24% of Facebook users have experienced an unexpected dropin income over the past 12 months. 24%

82% of Facebook usershave set aside savings funds for retirement. 82%

60%

60% of Facebook usershave money in insurance products, which is a higher percentage than any other social network.

How would you rate the current �nancial circumstances of your household?

CURRENT FINANCES RATING

Facebook usersare some of the most comfortable with the current state of their finances.

6%Not at all comfortable:

13%Not very comfortable:

37%Somewhat comfortable:

35%Very comfortable:

9%Extremely comfortable:

How Facebook users ratetheir current financial comfort:

Which of the following information resources do you prefer usingwhen learning about personal �nancial plans?

FINANCIAL RESEARCH

of Facebook users prefer information from a financial professional, which is a higher percentage thanany other social network.

65%

of Facebook users prefer recommendations from family and friends.

36%

Which of the following best describeshow you manage your money?

FINANCIAL BEHAVIOR

76%of Facebook users say that before they buy something, they carefully consider whether or not they can afford it.

57%of Facebook users are setting long-term financial goals that they work towards.

54%of Facebook users feel in control of their financial future.

60%of Facebook users feelin control of their personal finances.

34% of Facebook users are keepingclose track of their expenses anddo have a budget.

34%

Facebook usersspend an average of1.5 hours

per monthbudgeting.

How long do you spend creating a regular budget each month?

PERSONAL FINANCEMANAGEMENT

51% of Facebook users have asomewhat good idea of their expenses,but don’t keep a strict budget.

73% of Facebook usersagree or strongly agree that theyare good at tracking expenses.

51%

48%1-3 hrs 6%

4-6 hrs

1%10+ hrs 44%

Don’t createa regular budget!

1%7-9 hrs

73%

FINANCIALKNOWLEDGE GRADE

Facebook users are more likely to grade themselvesa “B” when it comes to their financial knowledge.

How do you rate your own �nancial knowledge?

27%

40% 6%

25% 2%

LESS THAN$25,000

10%

$25K-$39.9K14%

$40K-$59.9K15% $60K-$79K

15%

$100K-$149K20%

$150K+13%

$80K-$99K13%

FACEBOOK USER ANNUALHOUSEHOLD INCOME

Average$86,678

2015SOCIAL MEDIA STATE OF FINANCIAL LITERACY