Summary
A study by WalletHub ranks U.S. states based on financial literacy, highlighting how well residents manage their finances. Minnesota tops the list due to high credit scores and financial education, while Arkansas ranks last.
Key Facts
- WalletHub assessed states on financial literacy using credit scores, financial habits, and education.
- Minnesota is the top state with a financial literacy score of 71.37 out of 100.
- Minnesota residents have high median credit scores, indicating responsible credit use.
- Colorado is the second most financially literate state, with strong financial planning and education.
- Arkansas ranks lowest in financial literacy with a score of 51.77.
- The study suggests that financial literacy helps people manage inflation and prepare for economic crises.
- Some states now require financial education courses for high school graduation.
