BREAKING: Does Your State Pass The Financial Literacy Test?

Customer with basket while shoppingWhen it comes to financial literacy, I am sure we could all use a little tutoring. However, according to recent research, where you live may have a big impact on your own financial literacy.

See the map below and find where your state falls in order of the most financially literate people in the America – and the least!

Financial Literacy Map

 

How Each State Was Scored

The research used several different factors to determine which states were more savvy than others, including:

 – Percentage of people who spend more than they make
 – Percentage of people with a rainy day fund
 – Percentage of people paying only minimum payments on credit cards
 – Percentage of “unbanked households”

Other educational factors were included as well, like:

 – High school dropout rate
 – Percentage of people with a Bachelor’s degree or higher
 – Number of libraries per capita

Now What?

Shocked at where you land? Reverse the trend and get a higher grade by developing and living by a budget (only two in five Americans use a budget).

Comment below and tell us what grade did your state receive! Do you think it is an accurate grade?

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