Studies and Data Analysis

Economic and personal finance statistics, studies and data analysis from across NerdWallet.

This data hub brings together NerdWallet’s studies and unique analyses of proprietary and third party data across personal finance and economic topics. Our team of writers, experts and analysts design nationally representative surveys and robust methodologies to gain insight into household finances. These resources are available for use by traditional and online media, influencers and consumers.

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In the spotlight

Data: The State of Banking

Published on September 24, senior writer Erin El Issa's look at consumer sentiment around banking resulted in some interesting findings.

The data indicated:

  • Despite 57% of banking customers say online access is among the most important banking services and features to them, 40% of Americans have savings accounts at only brick-and-mortar banks.

  • 12% of Americans opened a savings account at a new or separate bank in the past 12 months. The top reason why? More than a third (36%) say the new bank had a higher savings account interest rate than their previous bank.

“Choosing a bank that meets your needs can help ensure you have access to products and features that help you meet daily financial needs and attain long-term goals,” NerdWallet spokesperson Elizabeth Ayoola says. “High interest rates, promotional bonuses, affordable access to overdrafts and loan products are just some things that can support your journey to healthy finances.”

Read the report, including tips on when it might be time to look for a new bank, here.

The latest

Recent economic commentary

Elizabeth Renter, Senior Economist

"If you have existing debt at a high interest rate, now’s the time to begin watching rates across lenders. In coming months, people who bought a car or home in the past few years may have the opportunity to refinance at a lower rate. Less interest on a car loan or mortgage means lower payments and the potential for paying off your debt sooner. "

Sept. 18, 2024

Elizabeth Renter is available for media interviews, discussing economic and data topics. Contact [email protected].

The latest columns from Elizabeth Renter

Trending chart

A recent article from Joe Yerardi examined consumer awareness of social media money trends, and highlighted four you might want to know about. Read about it here.

Studies and data resources by topic

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Our standards

All of our data projects go through a rigorous process before publication. During the planning stage, editors, data writers and analysts, subject matter experts and communications specialists share perspectives and ask tough questions of all potential ideas. We use data from only the most reputable sources, and our methodologies and calculations are all checked and rechecked for sound rationale and accuracy. Our data-driven work also goes through a minimum of three rounds of editing before publication.

Our nationally representative surveys are conducted in collaboration with The Harris Poll. We've been working with The Harris Poll since 2014 to field statistically sound and robust surveys weighted to be representative within age, gender, race/ethnicity, region, household income, education, employment, marital status and size of household where necessary to align with their actual proportions in the population.

Media inquiries

For questions, including requests for data or interviews with our analyst and experts, please contact [email protected].

Survey snippets

Annual sales events

Shopping during annual sale events

  • In the past 12 months, 39% of Americans have taken advantage of an annual sale event to buy something they were already planning to buy.

  • In the past 12 months, 29% of Americans bought something they weren’t planning to buy during an annual sale event.

  • In the past 12 months, 16% of Americans have regretted buying something they weren’t planning to buy during an annual sale event.

*The examples we provided for "annual sale events" include Amazon Prime Days, Target Circle Week and Black Friday.

This survey was conducted online within the United States by The Harris Poll on behalf of NerdWallet from October 1-3, 2024 among 2,090 U.S. adults ages 18 and older, among whom 425 currently own a small business. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

Autopay sentiment

Reluctance to using autopay

Autopay — the automatic payment of bills (utilities, credit cards, etc.) from your bank account — can help simplify your financial life by giving you one (or many) less things to worry about. But our nationally-representative survey conducted online by The Harris Poll found two reasons some Americans are reluctant to use the service.

  • 26% of Americans are reluctant to use autopay to pay their bills because they like greater control over transactions affecting their account(s).

  • 24% of Americans are reluctant to use autopay to pay their bills because they’re concerned about mistakes.

Read more here, where writer Melissa Lambarena details when and how to use the service to your advantage.

This survey was conducted online within the United States by The Harris Poll on behalf of NerdWallet from July 11-15, 2024, among 2,096 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

Financial strain

Americans under financial strain

Seventeen percent of Americans are currently having difficulty making all of their debt payments each month according to our nationally-representative survey conducted online by The Harris Poll.

Other results from our survey:

  • 17% of Americans cannot reasonably make more than the minimum payments on their debt each month (i.e., if they did they wouldn’t be able to pay for necessities).

  • Less than half (42%) of Americans would be able to pay for all of their necessary expenses (e.g., food, housing, utilities) if their household income decreased by 10%.

  • 18% of Americans borrowed money in the last 12 months to pay for necessities such as food, housing or utilities. This includes 25% of Gen Z, 26% of Millennials, 17% of Gen X and 7% of Baby Boomers.

This survey was conducted online within the United States by The Harris Poll on behalf of NerdWallet from July 11-15, 2024, among 2,096 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

Health insurance priorities

Health insurance shoppers’ priorities

As part of our recent Medicare and Retirement Report, we asked how insured Americans prioritize health insurance factors. Most Americans (94%) say they have insurance, whether Medicare or otherwise. When asked which factors are among the most important when choosing a health insurance plan, the top ones were prescription drug coverage (54%), dental, vision and hearing coverage options (49%) and ability to keep seeing current doctors (47%).

This survey was conducted online within the United States by The Harris Poll on behalf of NerdWallet from July 11-15, 2024, among 2,096 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

Disclaimer

NerdWallet disclaims, expressly and impliedly, all warranties of any kind, including those of merchantability and fitness for a particular purpose or whether the article’s information is accurate, reliable or free of errors. Use or reliance on this information is at your own risk, and its completeness and accuracy are not guaranteed. The contents in this article should not be relied upon or associated with the future performance of NerdWallet or any of its affiliates or subsidiaries. Statements that are not historical facts are forward-looking statements that involve risks and uncertainties as indicated by words such as “believes,” “expects,” “estimates,” “may,” “will,” “should” or “anticipates” or similar expressions. These forward-looking statements may materially differ from NerdWallet’s presentation of information to analysts and its actual operational and financial results.

Rate cut plans

Americans financial plans after interest rate cuts

The Federal Reserve is expected to cut interest rates in the fall in response to moderating inflation. We recently examined Americans' plans to take any financial actions once rates go down:

Our nationally-representative survey conducted online by The Harris Poll found some stark generational differences:

  • 89% of Gen Z (ages 18-27) say they planned to take at least one financial action once interest rates go down, compared with 78% of Millennials (ages 28-43), 62% of Gen Xers (ages 44-59) and 31% of Baby Boomers (ages 60-78).

  • 30% each of Gen Z and Millennials say they planned to purchase a car compared with 22% of Gen Xers and 12% of Baby Boomers.

  • 29% of Gen Z and 27% of Millennials say they plan to refinance a loan as compared with 18% of Gen Xers and just 3% of Baby Boomers.

  • 30% of Gen Z and 22% of Millennials say they plan to take out a loan as compared with 13% of Gen Xers and just 3% of Baby Boomers.

This survey was conducted online within the United States by The Harris Poll on behalf of NerdWallet from July 9-11, 2024 among 2,095 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

Disclaimer

NerdWallet disclaims, expressly and impliedly, all warranties of any kind, including those of merchantability and fitness for a particular purpose or whether the article’s information is accurate, reliable or free of errors. Use or reliance on this information is at your own risk, and its completeness and accuracy are not guaranteed. The contents in this article should not be relied upon or associated with the future performance of NerdWallet or any of its affiliates or subsidiaries. Statements that are not historical facts are forward-looking statements that involve risks and uncertainties as indicated by words such as “believes,” “expects,” “estimates,” “may,” “will,” “should” or “anticipates” or similar expressions. These forward-looking statements may materially differ from NerdWallet’s presentation of information to analysts and its actual operational and financial results.

  • Around two-thirds of Americans (66%) don’t feel comfortable talking with their friends about personal finance situations, such as income, debt and money problems.

  • More than 2 in 5 Americans (43%) say they’ve lent money to a friend and 20% of Americans have had to remind a friend to pay them back the money they owed.

  • Over a quarter of Americans (27%) say they’ve had to turn down plans with a friend because they couldn’t afford it. Gen Zers and millennials are more likely to say this than Gen Xers and baby boomers — 35% and 34%, vs. 25% and 20%.*

  • More than half of Americans (53%) say they generally don’t have arguments about money with their friends. Baby boomers are more likely to say this than younger generations — 64%, vs. 56% of Gen X, 45% of millennials and 43% of Gen Z.

*Generations defined: Gen Z (ages 18-27), millennials (ages 28-43), Gen X (ages 44-59), baby boomers (ages 60-78)

This survey was conducted online within the United States by The Harris Poll on behalf of NerdWallet from April 15-17, 2024, among 2,082 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

Disclaimer

NerdWallet disclaims, expressly and impliedly, all warranties of any kind, including those of merchantability and fitness for a particular purpose or whether the article’s information is accurate, reliable or free of errors. Use or reliance on this information is at your own risk, and its completeness and accuracy are not guaranteed. The contents in this article should not be relied upon or associated with the future performance of NerdWallet or any of its affiliates or subsidiaries. Statements that are not historical facts are forward-looking statements that involve risks and uncertainties as indicated by words such as “believes,” “expects,” “estimates,” “may,” “will,” “should” or “anticipates” or similar expressions. These forward-looking statements may materially differ from NerdWallet’s presentation of information to analysts and its actual operational and financial results.

  • Close to half of Americans (45%) say they’ve made weight loss-related purchases for themselves, including prescription weight loss medications (11%) and weight loss surgery (5%).

  • About two-thirds of Americans who have made weight loss-related purchases for themselves (63%) used cash or debit cards to pay for them, while 38% used a credit card they paid in full by the due date. 

  • Some Americans who have made weight loss-related purchases for themselves took on debt — 14% used a credit card they didn’t pay in full by the due date and 12% used a buy now, pay later service.

  • Nearly a quarter of Americans who have made weight loss-related purchases for themselves (24%) used insurance to pay for it, while 10% used an FSA/HSA.

This survey was conducted online within the United States by The Harris Poll on behalf of NerdWallet from April 15-17, 2024, among 2,082 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

Disclaimer

NerdWallet disclaims, expressly and impliedly, all warranties of any kind, including those of merchantability and fitness for a particular purpose or whether the article’s information is accurate, reliable or free of errors. Use or reliance on this information is at your own risk, and its completeness and accuracy are not guaranteed. The contents in this article should not be relied upon or associated with the future performance of NerdWallet or any of its affiliates or subsidiaries. Statements that are not historical facts are forward-looking statements that involve risks and uncertainties as indicated by words such as “believes,” “expects,” “estimates,” “may,” “will,” “should” or “anticipates” or similar expressions. These forward-looking statements may materially differ from NerdWallet’s presentation of information to analysts and its actual operational and financial results.

  • 54% of Americans say at least one financial scam has been attempted against them in the past 2 years. 

  • 18% of Americans lost money in a financial scam in the last 2 years. 

  • Americans who lost money to financial scams over the past two years typically lost $325 (median), while about one-third (32%) lost $1,000 or more.

This survey was conducted online within the United States by The Harris Poll on behalf of NerdWallet from April 2-4, 2024 among 2,061 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

Disclaimer

NerdWallet disclaims, expressly and impliedly, all warranties of any kind, including those of merchantability and fitness for a particular purpose or whether the article’s information is accurate, reliable or free of errors. Use or reliance on this information is at your own risk, and its completeness and accuracy are not guaranteed. The contents in this article should not be relied upon or associated with the future performance of NerdWallet or any of its affiliates or subsidiaries. Statements that are not historical facts are forward-looking statements that involve risks and uncertainties as indicated by words such as “believes,” “expects,” “estimates,” “may,” “will,” “should” or “anticipates” or similar expressions. These forward-looking statements may materially differ from NerdWallet’s presentation of information to analysts and its actual operational and financial results.