Consumer Finance
Our Consumer Finance Institute researches how people earn, spend, save, and invest, as well as how credit markets and payment systems affect the economy. Our goal is to foster a healthy consumer sector, a stable financial system, and a resilient regional and national economy.
Report
How Americans Use Social Media for Financial Advice
Social media has become a popular source for financial advice. Surveys indicate that people, especially those in younger generations, are increasingly turning to social media platforms for advice on various financial topics, including budgeting, saving, and investing.1
Labor, Income, Finances, and Expectations (LIFE) Survey
26 Feb ’25
The Labor, Income, Finances, and Expectations (LIFE) Survey collects data on topics related to the Consumer Finance Institute’s mission to better understand how people earn, spend, save, and invest, as well as how credit markets and payment systems affect the economy.
Event
Nov
6-7
2025
New Perspectives on Consumer Behavior in Credit and Payments Markets Conference – 2025
Federal Reserve Bank of Philadelphia
Report
Trust and Credibility: Comparing Sources of Financial Advice
Financial decision-making encompasses a wide range of topics, from how to optimize day-to-day budgeting to how to maximize your retirement resources to how to pick from hundreds of investment options.
Working Paper
Coverage Neglect in Homeowner’s Insurance
WP 25-09 – Most homeowners do not have enough insurance coverage to rebuild their house after a total loss. Using contract-level data from 24 homeowner’s insurance companies in Colorado, we show wide differences in average underinsurance across insurers that persist conditional on policyholder characteristics.
Working Paper
How Resilient Is Mortgage Credit Supply? Evidence from the COVID-19 Pandemic
WP 21-20/R – Lower interest rates in 2020–2021 were not fully passed through to mortgage borrowers due to a sharp rise in intermediation markups. These higher markups reflect capacity constraints amplified by operational and labor market frictions.
Report
LIFE Survey Report – January 2025
This report is part of a quarterly series on key observations from the Labor, Income, Finances, and Expectations (LIFE) Survey. Data from the survey provide insight into consumers’ recent financial lives and their future expectations.