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

On Mar 29, 2017

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

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