Transamerica Study: Social Media State of Financial Literacy 2015

June 6, 2015

State of Financial Literacy

The users of major social networks are not all the same. This infographic from SproutSocial, for instance, examines the differences between the users of LinkedIn, Twitter, Facebook and other social networks. The infographic finds that LinkedIn has 28 million users in India and 8 million in China. Almost 80 percent of U.S. adult women use Facebook, and 66 percent of adult males. And 25 percent of adults in urban areas use Twitter.

But Transamerica wanted to dive deeper into the financial health and outlook of social network users in the United States. The result is “Social Media State of Financial Literacy 2015,” a series of infographics that explores the financial literacy of users of LinkedIn, Facebook, Twitter, and Reddit.

For financial marketers, the study unearthed many monetary differences between users of these major social networks. For instance, LinkedIn users are more likely than users of other social media networks to give themselves a financial knowledge grade of an “A”: 32 percent of LinkedIn users awarded themselves an “A,” while only 26 percent of social network users overall gave themselves the top grade. At 35 percent, Twitter users were most likely to give themselves a “C” grade in financial knowledge.

Here are some additional insights for marketers from the research about the financial intelligence of social network users:

  • LinkedIn users (65 percent) were most likely to set long-term financial goals.
  • 73 percent Twitter users are likely to spend rather than save money for the long term.
  • 54 percent of LinkedIn users are likely to take a second job when faced with debt.
  • LinkedIn (37 percent) and Reddit (36 percent) were most likely to gather financial information from social media.

To find out more about the financial well-being and know-how of LinkedIn users, take a closer look at the LinkedIn Social Media State of Financial Literacy 2015 infographic from Transamerica below.

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