Oklahoma Financial Literacy Statistics
The Oklahoma Financial Educators Council (OKFEC) strengthens statewide understanding of financial wellness among Oklahomans by continually gathering current data and keeping the information on this webpage accurate and up to date. These insights are shared with policymakers, advocates, researchers, community organizations, and the public, offering a reliable foundation for informed action. By providing these statistics, OKFEC supports stronger advocacy efforts and smarter policy development, underscoring the Council’s ongoing commitment to improving financial well-being across Oklahoma.
Cost of Financial Illiteracy Survey
Oklahomans report that lack of financial knowledge carries a high cost, according to this 2021 survey. Participants across the state responded to the single question: “During the past year (2021), about how much money do you think you lost because you lacked knowledge about personal finances?” The results are shown below. Interestingly, almost 9% of survey respondents believed they had lost $10,000 or more in the past year due to financial illiteracy (percentages are rounded).
Oklahomans 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 Oklahoma.
Cost of Financial Illiteracy
$0 – $499
$500 – $999
$1,000 – $2,499
$2,500 – $9,999
$10,000 +
Financial Vulnerability Among Oklahomans
Researchers commonly use two measures to indicate financial vulnerability among a given population: food insecurity and housing insecurity. In Oklahoma, food insecurity affects people in every county and legislative district – with 745,130 individuals facing hunger according to Feeding America. And one out of every four of Oklahoma’s children (231,800) are among these hungry individuals.
Regarding housing insecurity, the Sooner State had a total homeless count of 5,467 as of 2026, reported by the World Population Review. That figure represents an unhoused rate of 13.0 individuals per 10,000 residents in the state, and the number had increased by 29.5% over the previous year. WPR notes that the top four causes of homelessness (in rank order) are lack of affordable housing, unemployment, poverty, and low wages.
Oklahoma Residents’ Financial Situations
Average Total Consumer Debt
Total consumer debt in the United States sat at $18.21 trillion as of January 2026. Reflecting this trend, a report from Experian shows that the average consumer debt per Oklahoma household was $73,877 as of late 2025. Although that estimate had decreased by a modest 1% from 2024 and fell below the national average of $104,755, consumer debt loads still represent a significant problem in the Sooner State.
Debt Totals by Type
For a more in-depth analysis, we can break consumer debt down into categories. A further study from the World Population Review places total student debt at an average of $31,525 among Oklahomans who carry such loans.
Regarding credit card debt, the average balance in Oklahoma was $6,601 as of March 2026, according to WalletHub; and the delinquency rate on those balances was 13.28%. And as of 2024, World Population Review statistics placed Oklahoma households’ average mortgage debt at $24,860 – a figure which has likely increased over time.
Oklahoma Financial Literacy Education and Legislation Data
The National Education Association (NEA) releases an annual report detailing each U.S. state’s counts of schools, teachers, and total student enrollment. Its most recent edition came out in 2025. For the 2023-24 school year, Oklahoma reported 699,102 students across its 507 operating public school districts. Those districts employed 43,001 educators, resulting in an average of 16.3 students per teacher.
The Oklahoma Legislature passed House Bill 2158 and the governor signed it into law in May, 2024. HB2158 ensures that, as of July 1, 2025, Oklahoma high school students must complete one-half unit of personal finance education in grade 10, 11, or 12 as a condition for graduation. This coursework is embedded into other required subjects such as Social Studies, rather than offered as a standalone course. Although the Oklahoma Academic Standards for Social Studies include specific economics standards at each grade level, no personal finance concepts – beyond basic economic topics – are embedded into the elementary-level standards.