Washington Financial Literacy Statistics
On this webpage, the Washington Financial Educators Council (WFEC) reports up-to-date statistics regarding the current condition of financial wellness among Washingtonians. By gathering these data and updating them on a regular basis, the WFEC informs policymakers, researchers, community groups, and the public so they can advocate for and implement financial literacy education legislation. Maintaining these statistics is part of the Washington Council’s demonstrated commitment to moving the financial wellness agenda forward.
Cost of Financial Illiteracy Survey
Washingtonians report that lack of financial knowledge carries a high cost, according to the NFEC’s most recent survey. Participants across the state responded to the single question: “During the past year, about how much money do you think you lost because you lacked knowledge about personal finances?” The results are shown below. Since 2017, the NFEC has conducted this annual survey, consistently revealing that the average individual cost of financial illiteracy approaches or exceeds $1,000 per person – with estimated national losses reaching into the hundreds of billions of dollars each year, and losses in the hundreds of millions across Washington.
Cost of Financial Illiteracy
$0 – $499
$500 – $999
$1,000 – $2,499
$2,500 – $9,999
$10,000 +
Financial Vulnerabilities Washingtonians Face
Financial vulnerability in the Evergreen State is characterized by insecurity in two key areas: food and housing. Hunger currently affects 1 out of every 8 Washingtonians, with 1,027,920 people currently facing food insecurity – and 281,010 of those individuals are children. Out of all the households that receive food assistance through the federal SNAP (formerly food stamps) program, 30% have children in the home.
Housing insecurity is also a significant issue in Washington. A total 31,554 people (40%) were unhoused in the state as of 2024, according to a report from the World Population Review (WPR) – placing Washington 3rd highest in the country for homelessness. The WPR lists four main causes of homelessness in rank order: lack of affordable housing, unemployment, poverty, and low wages.
Statistics on Washington Residents’ Financial Situations
Average Total Consumer Debt
Experian reports the mean total consumer debt per household in Washington at $151,068 in 2025. This figure far exceeds the national average of $104,755, underscoring a significant debt problem in the state. Given that total consumer debt in the U.S. has soared above $18 trillion as of 2026, this statistic further highlights the need for increased financial education nationwide.
Debt by Specific Category
We conducted further searches to uncover how the total household debt breaks down into specific debt category. According to the World Population Review, among Washingtonians who carry student loans, the average owed is $35,510. Credit card debt per user sits at an average of $8,364 in Washington, as estimated by WalletHub. WPR also reports that the average owed on a mortgage in Washington was $66,020 in 2024, ranking the state fourth in the nation on that metric.
Washington Financial Literacy Legislation and Education Statistics
The National Education Association (NEA) publishes a periodic report outlining state-level data on number of schools, teachers, and enrollment levels for each American state. The most recent report was issued in 2025. For the 2023-24 academic year, Washington had 321 operating public school districts and a total student enrollment of 1,061,078. A total 63,017 educators served those students, for a student-to-teacher ratio of 10:1.
Washington legislation regarding financial literacy education was last enacted in 2015. Chapter 211 (Senate Bill 5202) mandated that school districts provide financial education to students in grades 9 through 12, with the aim to integrate financial education skills and content knowledge into the state learning standards and to ensure that students receive instruction in personal finance as part of their K-12 curriculum. Districts may choose between several methods of delivering the financial literacy instruction, including optional opportunities and a course for high school graduation credit.
More recently, Senate Bill 5080 was introduced in the Washington State Senate in 2025 and remained under consideration as of January 2026. This proposed legislation would mandate financial education instruction as a high school graduation requirement.