NJ & PA Among Most Financially Literate States
By Jim Donovan: National Financial Literacy Month begins today. How financially literate are you? The personal finance website, WalletHub, has released its report on 2015's Most & Least Financially Literate States, which analyzes financial education programs and consumer habits in each of the 50 states as well as the District of Columbia. The good news? In our region New Jersey and Pennsylvania made the Top 10 list of financially literate states. While Delaware trailed a bit, it still made the top half of the list.
Most Financially Literate
1 New Hampshire
2 Utah
3 Massachusetts
4 Maryland
5 New Jersey
6 North Dakota
7 Illinois
8 Minnesota
9 Pennsylvania
10 Virginia
Least Financially Literate
42 Texas
43 Alabama
44 Kansas
45 Oklahoma
46 Kentucky
47 New Mexico
48 Louisiana
49 Arkansas
50 Nevada
51 Mississippi
Some interesting findings:
• The percentage of people overspending their income is twice as high in Hawaii and Nevada than in Maryland.
• Rainy day funds are twice as common in Mississippi, New Mexico and Indiana than in Arizona.
• D.C. residents are twice-as-likely to compare credit card offers than people in Minnesota.
For the full report and to see where your state ranks, please visit:
http://wallethub.com/edu/most-and-least-financially-literate-states/3337/
