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This is the State That Is Smartest About Money

By:
Kerri Anne Renzulli
3 min read
The folks in Concord, New Hampshire, can boast that they are the most financially literate in the nation. - Alamy
The folks in Concord, New Hampshire, can boast that they are the most financially literate in the nation. Alamy

Think you and your neighbors are savviest in the nation when it comes to money?

Well, unless you live in New Hampshire, you'll have to let that notion go. According to a report released Tuesday by WalletHub, the Granite State alone can claim the title of "most financially literate state."

The report looked into the financial education programs and consumer habits in all 50 states, as well as the District of Columbia, to create its rankings. Each state was judged on 11 different qualities, ranging from Champlain University’s high-school financial literacy grades to the percentage of residents who spend more than they make, and then scored on its planning/daily habits and knowledge/education level separately before receiving an overall rank.

New Hampshire pushes its way to the top by having the lowest high school dropout rate, the second lowest non-bank borrowing rate, and the fourth lowest number of unbanked households in the country.

Mississippi ranked last in financial literacy, dragged down by having the most residents without a rainy day fund and the most unbanked households.

Want to know how your state fared? See the full ranking below. Check out the study details to see the states that did best and worst by each measure.

Overall Rank

State

Knowledge & Education Rank

Planning & Daily Habits Rank
1 New Hampshire 2 1
2 Utah 1 7
3 Massachusetts 21 2
4 Maryland 12 4
5 New Jersey 11 9
6 North Dakota 33 3
7 Illinois 14 8
8 Minnesota 8 13
9 Pennsylvania 30 4
10 Virginia 3 20
11 New York 24 10
12 South Dakota 6 15
13 California 38 6
14 Maine 30 11
15 Iowa 20 14
16 Colorado 5 24
17 Wisconsin 13 17
18 Florida 40 11
19 Nebraska 23 16
20 Washington 19 18
21 District of Columbia 10 22
22 Idaho 4 36
23 Montana 14 23
24 Hawaii 29 21
25 Vermont 16 27
26 Wyoming 18 26
27 Delaware 44 19
28 South Carolina 28 28
29 Connecticut 37 25
30 Alaska 35 30
31 Oregon 27 32
32 North Carolina 22 36
33 Missouri 7 44
34 West Virginia 33 33
35 Indiana 45 29
36 Ohio 42 31
37 Tennessee 26 38
38 Georgia 17 40
39 Rhode Island 39 38
40 Michigan 48 34
41 Arizona 25 42
42 Texas 32 40
43 Alabama 50 34
44 Kansas 9 48
45 Oklahoma 35 46
46 Kentucky 46 42
47 New Mexico 47 45
48 Louisiana 43 49
49 Arkansas 51 47
50 Nevada 41 50
51 Mississippi 49 51

Overall Rank

State

Knowledge & Education Rank

Planning & Daily Habits Rank

 

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