EBRI Fast Facts

The Importance of English Proficiency in Financial Wellbeing

Mar 14, 2024 8  pages


In the United States, more than 350 languages are spoken. English is predominantly spoken to communicate among the 1,500 different races and ethnicities residing in the country.  This Fast Fact explores the significance of English proficiency in achieving financial wellbeing. Income and ownership rates of various assets and financial tools are analyzed among three English proficiency groups using survey responses of adults ages 21 or older.