MoneyLion and Mastercard ‘Health is Wealth’ Report Reveals Hidden Physical Costs of Financial Stress

75% of U.S. adults believe improving financial literacy would improve their health

MoneyLion (“MoneyLion”) (NYSE: ML), the financial platform that has made money easy for over 18 million Americans, and Mastercard (NYSE: MA) have released findings from their new Health is Wealth Report,¹ based on a survey they commissioned and conducted by The Harris Poll. The report, part of the broader MoneyLion x Mastercard Health is Wealth campaign, coincides with Financial Literacy Month and Physical Wellness Month (April), underscoring the connection between financial knowledge and overall well-being. The new data in the report indicates that financial stress is intertwined with physical and mental health and wellness, suggesting that accessible and effective financial literacy education could help alleviate both physical and mental health challenges.

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Key findings from the report showcase the link between financial and physical well-being, including:

• The cost of financial stress: 66% of U.S. adults have experienced physical symptoms due to financial stress, with trouble sleeping (40%) and headaches (37%) being the most common complaints.
• Skipping self-care: Nearly 6 in 10 U.S. adults (59%) say they have skipped health related activities—such as doctor visits (25%) or joining a fitness center/taking a fitness class (17%)— due to financial concerns.
• Inflation hits hard: 67% say inflation has negatively impacted their physical or mental health, citing increased stress (38%), anxiety (36%), and difficulty affording healthy food (30%) as top impacts.
• Education as the first step: 75% of U.S. adults say they would be healthier if they improved their financial literacy, and 22% believe better financial knowledge would enhance their physical appearance. U.S. adults who say they are confident in their financial literacy are also significantly less likely (63% vs. 80%) to say they have experienced physical symptoms as a result of financial stress than those who say they are not confident.
• Barriers to learning: 56% of U.S. adults say they face barriers to learning about money and personal finances, with not being sure where to start (21%) and hard-to-understand resources (15%) being the top obstacles. About 1 in 8 U.S. adults say not having enough time (13%) or resources being boring (12%) are among their biggest barriers to learning about money and personal finances.
• Personalization, ease, and incentives: 79% of U.S. adults say there are factors that would make them more likely to want to engage with financial education, such as it being personalized to their financial situation (40%), short, easy-to-digest content (39%), incentivized (39%), or gamified (22%).
• Financial literacy in schools: An overwhelming 90% of U.S. adults say that financial literacy should be a required subject in schools, just like physical education or math.

¹The insights featured in this report were compiled using data collected from an online survey conducted in the United States by The Harris Poll on behalf of MoneyLion and Mastercard from February 28-March 4, 2025 among 2,092 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact pr@moneylion.com.

“Financial well-being isn’t just about money, it’s about freedom, access and opportunity,” said Yuka Yoneda, Vice President of Content Marketing at MoneyLion. “The findings presented in the MoneyLion and Mastercard ‘Health is Wealth’ report reflect the voices of Americans, who believe that improving their financial literacy can also have positive outcomes on their health. But they need money topics to be presented in an easy, personalized, and rewarding way. At MoneyLion, we are committed to empowering Americans to take control of their financial and physical wellness by making financial education simple, engaging, and even fun.”

“Financial literacy equips individuals with the knowledge and skills to make informed decisions, leading to a healthier and more secure future,” said Stefany Bello, SVP, Digital Players, Fintech & Enablers, North America, at Mastercard. “At Mastercard, we are dedicated to the financial well-being and empowerment of individuals, families, and small business owners. Building on our longstanding partnership with MoneyLion, we are proud to highlight these important findings and continue to advance solutions that promote financial equity for all.”

The report also examines the practical steps that businesses and financial institutions can take to incorporate these insights into their content strategies to help improve consumers’ financial literacy. As businesses, financial institutions, and content creators seek to engage consumers, the findings suggest a critical opportunity: Empowering consumers with personalized, easy, and accessible financial knowledge could drive real improvements in their health and quality of life.

The white paper is part of MoneyLion’s larger Health is Wealth campaign, which also features interactive financial literacy content designed to provide actionable solutions for consumers to take control of their financial health while also addressing their physical health. A key highlight of the initiative is the new FinFit series of short videos that blend personal finance education with guided workout routines. Covering various exercises, these sessions will integrate lessons on credit, investing, budgeting, and retirement planning, enabling users to sharpen their money knowledge while toning their bodies. The campaign also invites U.S. adults to join MoneyLion’s Money Master daily financial learning game, which rewards users with daily points redeemable for cash as well as the chance to win $5,000. FinFit and Money Master are available for free in the MoneyLion app.

For more information on the Health is Wealth campaign and to see the full white paper, visit moneylion.com/learn/health-is-wealth.

About MoneyLion

MoneyLion is a leader in financial technology powering the next generation of personalized products, content, and marketplace technology, with a top consumer finance super app, a premier embedded finance platform for enterprise businesses and a world-class media arm. MoneyLion’s mission is to give everyone the power to make their best financial decisions. We pride ourselves on serving the many, not the few; providing confidence through guidance, choice, and personalization; and shortening the distance to an informed action. In our go-to money app for consumers, we deliver curated content on finance and related topics, through a tailored feed that engages people to learn and share. People take control of their finances with our innovative financial products and marketplace - including our full fledged suite of features to save, borrow, spend, and invest - seamlessly bringing together the best offers and content from MoneyLion and our 1,300+ Enterprise Partner network, together in one experience.

MoneyLion’s enterprise technology provides the definitive search engine and marketplace for financial products, enabling any company to add embedded finance to their business, with advanced AI-backed data and tools through our platform and API. Established in 2013, MoneyLion connects millions of people with the financial products and content they need, when and where they need it.

For more information about MoneyLion, please visit www.moneylion.com. For information about Engine by MoneyLion for enterprise businesses, please visit www.engine.tech. For investor information and updates, visit investors.moneylion.com and follow @MoneyLionIR on X.

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