A recent survey conducted by a global learning platform delved into the perspectives of high school and college graduates regarding the essential skills necessary for success in various aspects of life.
The survey focused on assessing the adequacy of the graduates’ educational preparation for real-world challenges and their opinions on the types of courses that should have been included in their curriculum. It particularly scrutinized their confidence levels and proficiency in fundamental life skills such as financial planning, automotive maintenance, cooking, and more.
Key Discoveries from the Survey:
- Uncertainty in Financial and Life Skills: Approximately one-third of recent graduates expressed doubts about possessing, or were uncertain about having, the crucial financial and core life skills essential for thriving in society.
- Interest in Non-Academic Courses: 68% of surveyed graduates believed that incorporating non-academic courses within formal education settings would enhance students’ readiness for real-world scenarios. This sentiment was notably strong among respondents from public educational institutions, with 71% in agreement.
- Stagnation in Automotive Maintenance Skills: Automotive maintenance emerged as the most challenging skill for nearly 20% of recent graduates, surpassing concerns about financial planning (17%), insurance (12%), minor home repairs (11%), cooking (11%), cleaning (8%), and organizing (8%).
- Challenges in Financial Planning: A significant majority (79%) of recent graduates cited financial planning as their most overwhelming task. Among all the life skills examined in the survey, 29% of respondents acknowledged that it adversely affected their mental well-being.
- Role of Social Media in Learning: Social media platforms were identified as valuable resources for bridging the skills gap, with 33% of recent graduates utilizing them to acquire knowledge on life skills.
Emphasizing Financial Wellbeing
Despite feeling least confident in automotive maintenance, a considerable majority (37%) of recent graduates admitted that financial planning posed the greatest challenge. Notably, 69% of respondents emphasized the importance of financial literacy. Moreover, 55% of recent graduates disclosed that they monitored their expenses diligently to adhere to predefined budgets, indicating their proactive approach despite their perceived lack of confidence.
The survey also unveiled a prevalent lack of financial assurance concerning long-term investing and planning.
- A majority (56%) of recent graduates expressed uncertainty in budgeting and managing long-term finances, such as 401Ks and credit scores, while 60% harbored doubts about their investment capabilities.
- Female members of Gen Z highlighted insurance (84%) as the most daunting aspect of long-term financial planning, with financial planning (83%) and automotive insurance (83%) tying for second place.
- Conversely, male members of Gen Z identified financial planning (85%) as their primary concern, followed by organizing (81%) and insurance (81%).
Common stressors in financial planning encompassed tax planning, emergency fund savings, debt management, and credit management.
Preparing for Real-World Challenges
Recent graduates pinpointed financial planning (45%), time management (38%), and emotional well-being/management (37%) as the top three non-academic courses that could have significantly enhanced their success if included in their educational curriculum. Respondents spanning from Gen Z to the Boomer generation echoed this sentiment, with financial literacy being singled out as the most beneficial non-academic course that could have better equipped them for life’s challenges.
Critical thinking, communication skills, emotional well-being, time management, cooking, cleaning, and organizing were also underscored as valuable courses that could have bolstered their preparedness for life beyond academia.
Caroline Walthall, Director of Product and Lifecycle Marketing at Quizlet, remarked, “Students are eager for practical life skills like financial literacy to be integrated into their formal education, considering the current economic landscape. Addressing these skill gaps is crucial not only for enhancing preparedness but also for fostering mental well-being and confidence.”
Initiating Self-Education
Beyond mere contemplation, recent graduates are actively seeking to augment their knowledge of essential life skills. More than half of the surveyed graduates disclosed leveraging online resources to acquire basic life skills, with 35% resorting to search engines and 33% turning to social media. The majority acknowledged relying on family and friends (72%) or engaging in trial and error (68%) to enhance their skill set.
Across different generations, there was a prevalent desire to impart wisdom to younger individuals, with over half of recent graduates expressing a commitment to passing on core life and financial skills acquired through personal experiences. This inclination was shared by various generations, particularly the Silent Generation, of which 52% affirmed that their life experiences motivated them to educate the next generation on these indispensable skills.
Angel Davis, a fourth-year student at NYU and social media assistant for Quizlet, expressed, “Equipping young individuals with the necessary tools and knowledge to navigate the complexities of adulthood is a collective responsibility. By expanding educational opportunities to include essential life skills, we can level the playing field and empower future generations for success in the real world.”
Research Methodology
The survey was conducted by the Allison Performance Intelligence team and involved 2,004 U.S. consumers aged 18 and above. This sample comprised 500 individuals who had graduated high school within the past two years, 500 recent college graduates, and 1,002 participants from the broader U.S. population without specific educational criteria. Fieldwork was carried out in January 2024 using the Forsta HX platform, and the panel was sourced through RepData.
About Quizlet
Quizlet serves as a global learning platform offering interactive study tools to aid individuals in mastering diverse subjects. With over 60 million users monthly, including students, educators, and enthusiasts, Quizlet facilitates learning across various domains for academic, professional, and personal enrichment. By integrating cognitive science and artificial intelligence, Quizlet guides users through adaptive study practices to achieve their learning objectives. The platform provides both free and subscription-based services for students and teachers, enabling personalized learning experiences. Headquartered in San Francisco, California, Quizlet is supported by prominent investors such as General Atlantic, Union Square Ventures, Altos Ventures, Icon Ventures, Owl Ventures, and Costanoa Ventures.