Understanding Drivers of Perceived Financial Control and Security
Roughly one in four in the U.S. would not be able to cover their basic needs for more than one month with their current savings. And almost half say they have tried to save before, but have not been able.
These findings, recently announced in a Gallup, MetLife Foundation and Rockefeller Philanthropy Advisors study on personal Financial Control and Security, are but two interesting data points from the 15,000-person, ten-country study, which:
- Builds on existing research to develop a new standard of measure for perceived financial control through the eyes of individuals around the world, an important dimension of financial health;
- Examines whether people are making sufficient use of financial services, and using their knowledge of and access to those services, to take control of their finances and improve their overall financial health;
- Provides important insights into the lives and financial decision-making processes of poor and low-income people.
By sharing these insights, we hope to help organizations, financial institutions, NGOs, charitable foundations, social enterprises and other stakeholders develop and deliver more responsive, customer-oriented services that have the potential to improve financial health globally.