As many people made their annual resolutions heading into the new year, the National Financial Educators Council conducted a survey that found the majority of participants linked their physical and emotional health to money.
The data shows it “plays a significant role” in people’s top resolutions for 2024, according to a news release.
“With most of the questions answered in the affirmative by more than 50% of the people surveyed, it becomes clear that most Americans believe that if their finances improve, so will their other top resolutions. The National Financial Educators Council (NFEC) plans to leverage the survey results to encourage mandates for financial literacy instruction in schools.”
The organization claims that despite the importance of financial education, schools “neglect to equip students with the necessary skills to manage money effectively,” an oversight that can impact their lives as they become adults.
“Money has an impact on far more than just people’s bank accounts,” NFEC CEO Vince Shorb said in the release. “It affects many important areas of their life related to core human needs. The objective of this survey is to encourage adults to address their financial situation and leverage the data to encourage financial education in high schools being taught with the same rigor as other core topics.”
NFEC surveyed 1,620 participants across the U.S. from Dec. 5-19 with these questions:
- Will your emotional health improve if your financial situation improves? Seventy-three percent answered “Yes” or “Definitely yes.”
- Will your relationships improve if your financial situation improves? Fifty-one percent answered “Yes” or “Definitely yes.”
- Will your fitness improve if your financial situation improves? Forty-one percent answered “Yes” or “Definitely yes.”
- Will your diet improve if your financial situation improves? Fifty-one percent answered “Yes” or “Definitely yes.”