New York Is The 9th Most Financially Literate State

April 1, 2016

east-harlem sliderWith National Financial Literacy Month coming up in April, the free-credit-score website WalletHub today released its report on 2016’s Most & Least Financially Literate States, which analyzes financial education programs and consumer habits in each of the 50 states and the District of Columbia.Here’s the stats:

Financial Literacy in New York (1=Most, 25=Avg.):

  • 10th – WalletHub’s ‘WalletLiteracy Survey’ Score
  • 19th – % of Residents Who Spend More than They Earn
  • 2nd – % of Residents with a Rainy-Day Fund
  • 26th – % of Residents Borrowing from Non-Bank Lenders
  • 8th – % of Residents Making Only Minimum Payment on Credit Card(s)
  • 3rd – % of Residents Who Compare Credit Cards Before Applying
  • 6th – Champlain University High School Financial Literacy Grade
  • 10th – % of Residents with at Least a Bachelor’s Degree

WalletHub’s data set of 12 key metrics — including the results of WalletHub’s proprietary WalletLiteracy Survey — ranges from Champlain University’s High School Financial Literacy Grades to the percentage of residents with a rainy-day fund.

For the full report, please visit:
http://wallethub.com/edu/most-and-least-financially-literate-states/3337/

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