The 10 Least Financially Literate States

April is Financial Literacy Month: Which states' citizens know how to spend their money, and which do not?

The 10 Least Financially Literate States Photo (cc) by Tax Credits

The least financially literate state in the nation isn’t actually a state.

Instead, it’s the District of Columbia — the nation’s capital — according to WalletHub.

The website has given each state and Washington, D.C., a numerical score and corresponding grade for its financial literacy.

The scores are based on 12 metrics, such as the percentage of residents with a rainy-day fund and the percentage of residents who spend more than they earn.

The District of Columbia earned an overall score of 51.3 out of 100, which equated to a C+.

The most financially literate state, New Hampshire, earned an overall score of 69.93, which equated to a B.

The most financially literate states are:

  1. New Hampshire
  2. Minnesota
  3. Illinois
  4. New Jersey
  5. Maryland
  6. Maine
  7. Florida
  8. Utah
  9. New York
  10. Virginia

The least financially literate states are:

  1. District of Columbia
  2. Alaska
  3. Nevada
  4. Arkansas
  5. Mississippi
  6. New Mexico
  7. Missouri
  8. Kentucky
  9. Louisiana
  10. Rhode Island

Ready to put your own financial literacy to the test? Check out this Money Talks News series:

What grade would you give your own financial literacy? Let us know why by leaving a comment below or on our Facebook page.

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