Understanding the needs and behaviors of consumers, especially those who have traditionally been overlooked by mainstream financial services, is key to improving financial health for all. With nearly a decade of market analysis and proprietary insights from our groundbreaking research, the Financial Health Network lays a foundation for businesses and policymakers to shape innovative strategies, product designs, and policies that can help more Americans achieve financial security.
For nearly a decade, this report has guided businesses and policymakers in pursuit of responsible financial health innovation. In 2021, the Financial Health Network has again reimagined the study, refreshing the methodology to create an even more valuable resource.
Amidst a year of high interest rates and decelerating inflation, spending on financial services tops $400 billion for the first time.
What are Americans paying for financial services as the country emerges from the COVID-19 pandemic? This year’s FinHealth Spend Report – our long-running national study on the costs of financial services to U.S. households – reveals that spending has soared in the past year amid a turbulent economy and persistent inflation.
In 2024, consumers spent $12.1 billion on overdraft and NSF fees – approximately 48% more than previously thought.
Since 2018, the Financial Health Network has conducted the Financial Health PulseⓇ research initiative to identify national financial health trends.
As consumers grapple with high inflation and rising credit card balances, they’re shifting away from travel rewards in favor of cash back credit cards, according to the J.D. Power 2024 U.S. Credit Card Satisfaction Study.
More borrowers have been falling behind on their credit card bills and are paying for more basic banking services, like A.T.M. fees.
New data from Financial Health Network shows credit balances, spending on interest and fees, and unmanageable debt all increased for Americans, with the financially vulnerable and people of color paying an outsized portion.
Amidst a year of high interest rates and decelerating inflation, spending on financial services tops $400 billion for the first time.
The IRS is in the midst of reinventing itself by offering taxpayers several new customer service options. These enhancements will undoubtedly provide better customer service to taxpayers, but the IRS must design them so they will be accessible to all.
The credit landscape for Americans with disabilities is uneven. Low credit scores and lacking credit health are common obstacles for disabled people.
Which trends will shape financial health the most over the next generation – and how can we harness them to help more people achieve financial security?