New Jersey is 2017’s 7th Most Financially Literate State

April is National Financial Literacy Month, and the free-credit-score website WalletHub released its report on 2017’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.

The study uses a data set of 15 key metrics — including the results of WalletHub’s WalletLiteracy Survey — ranges from high-school financial literacy grade to share of adults with a rainy-day fund.

Financial Literacy in New Jersey (1=Most Financially Literate, 25=Avg.):

  • 16th – WalletHub’s ‘WalletLiteracy Survey’ Score
  • 22nd – % of Adults Aged 18+ Who Spend More than They Earn
  • 9th – % of Adults Aged 18+ with Rainy-Day Funds
  • 3rd – % of Adults Aged 18+ Who Borrow from Nonbank Lenders
  • 5th – % of Adults Aged 18+ Paying Only Minimum on Credit Card(s)
  • 6th – High-School Financial Literacy Grade
  • 2nd – Public High-School Graduation Rate
  • 6th – % of Adults Aged 25+ with at Least a Bachelor’s Degree
Related Articles: