A new study has found which U.S. states are the most and least financially literate
how, “After the Great Recession, it became clear that more people needed to learn financial literacy.”
In order to see which of the American people took that lesson to heart, WalletHub researchers compared all 50 states plus D.C. across three key categories — “‘WalletLiteracy Survey’ Score;” “Financial Planning Habits;” and “Financial Knowledge & Education” — and scored them on relevant metrics to find out which were more monetarily prudent than others.snag the number 21 spot, meaning it was in the upper half and, therefore, among the most financially literate states in the country.
“Managing one’s money has simply become too complicated to be left to chance,” states John Pelletier, Director of the Center for Financial Literacy at Champlain College. “Informed financial decisions confront all of us, and we have to have the knowledge and skills ot navigate a complex global economy.
“We need to understand how to budget, save and invest for retirement avoid dangerous forms of debt, and make sound choices in the use of credit, car and student loans, mortgages, and much more.”If you purchase a product or register for an account through one of the links on our site, we may receive compensation.
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