Synchrony Survey Reveals 39% Learned Finance in School, Boosts Education Funding
Synchrony’s In Sync with Consumers survey found only 39% of U.S. consumers learned personal finance in school and 69% feel confident budgeting but only 46% feel confident investing. The company plans to accelerate charitable giving to expand classroom financial education and offer free credit resources nationwide.
1. Survey Highlights Financial Literacy Gaps
The results from the In Sync with Consumers survey show that only 39% of U.S. consumers learned personal finance in school and 56% reported strong financial literacy skills, while 69% feel confident managing a budget but just 46% trust their investing abilities. The data also reveal 75% of respondents view financial literacy as a continuous journey needing ongoing education.
2. Company Expands Financial Education Funding
Synchrony is accelerating its charitable giving to support financial education programs in classrooms nationwide and will provide free credit education resources to help consumers manage credit with confidence. This expansion builds on the company's existing commitments and targets earlier intervention in personal finance learning.
3. Implications for Consumer Engagement
By improving consumer financial knowledge, Synchrony aims to foster stronger credit customers who make informed spending decisions, potentially boosting credit utilization rates and reducing default risk. Enhanced consumer resilience may strengthen Synchrony's position in the consumer financing market over the long term.