Wallethub, a free credit score website, has released rankings of this year’s most financially literate states for National Financial Literacy Month. Virginia came in first, and Louisiana ranked least financially literate.
Analyzing financial-education programs and consumer habits, the study uses a data set of 17 key metrics, including Wallethub’s own survey. Louisiana's full results are below.
Financial Literacy in Louisiana (1 - Most Financially Literate, 25 - Average):
- 49th – WalletHub’s ‘WalletLiteracy Survey’ Score
- 26th – Percent of Adults Aged 18+ Who Spend More than They Earn
- 42nd – Percent of Adults Aged 18+ with Rainy-Day Funds
- 50th – Percent of Unbanked Households
- 46th – Percent of Adults Aged 18+ Paying Only Minimum on Credit Card(s)
- 40th – Percent of Adults Aged 18+ Who Compare Credit Cards Before Applying
- 37th – High-School Financial Literacy Grade