The Wells Fargo Money Study

How do Americans really feel about money?

Discover why over 3 million and counting Americans have already logged onto LifeSync® in the Wells Fargo Mobile® app1 to identify their money goals.

Learn more

The Wells Fargo Money Study

How do Americans really feel about money?

Discover why over 3 million and counting Americans have already logged onto LifeSync® in the Wells Fargo Mobile® app1
to identify their money goals.

Learn more

The inaugural Wells Fargo Money Study surveyed American adults and teens to uncover candid truths about their attitudes to money.

On behalf of Wells Fargo, Versta Research conducted a national survey of 3,403 U.S. adults and 203 U.S. teens age 14 to 17. Sampling was stratified and data were weighted by age, gender, race, ethnicity, income and education to achieve accurate representation of the current population based on estimates from the U.S. Census Bureau. The survey was conducted from September 5 to October 3, 2023. Most findings are reported based on the full sample of adults. Comparisons and data from teens are noted separately.

Did you know...

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51% of Americans surveyed admit to lying about money. 82% want to keep money a private topic — especially their savings and earnings.
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56% of today’s teens surveyed are already worried about money. Only 40% of adults felt the same growing up.
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43% of Americans surveyed struggle to align their goals to money strategies. 80% want to learn new ways to manage money.
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79% of Americans surveyed want to make money story changes. 79% want their bank to help them set money goals.

Good intentions

Nearly all Americans (90%) want to align their values with how they use money, and four out of five want to be more intentional about their spending.

“Our values and how we use our money has to line up. It's like your money is your belief system.”56-year-old in one-on-one interview

Eager to learn

All generations — young and old — would like to understand new ways of thinking about and managing money.

“I want to have my own money and know how to spend it, without relying on my parents to make those decisions for me. Almost like a freedom.”17-year-old in one-on-one interview

Money relationship

Money relationship

Many Americans have a love/hate relationship with money and want a "mental reset" in how they think about their money.

Graph reading "36%"
Graph reading "30%"
Graph reading "28%"
Graph reading "27%"

Percentage who agree with each statement.

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Money conversations

Money conversations

For most Americans, money conversations are challenging. Talking about money is harder than talking about religion, politics, or death and is almost as hard as talking about sex.

Graph reading "29%"
Graph reading "40%"
Graph reading "46%"
Graph reading "57%"
Graph reading "60%"

Percentage who find each topic difficult to discuss.

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Money support

Money support

Americans want help with their finances. They are seeking ideas for improvement, ways to plan, and more financial education — especially teens.

Graph reading "46%"
Graph reading "57%"

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We’re here to help

Looking for new ways to approach your finances? LifeSync® in the Wells Fargo Mobile® app1 can help support you to set and make progress towards your financial goals.

Learn more