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Banking / Financial

WalletHub Study: NJ Is 2022’s 10th Most Financially Literate State

With April being National Financial Literacy Month and less than half of adults setting a budget, the free credit score website WalletHub released its report on 2022’s Most & Least Financially Literate States, as well as accompanying videos and expert commentary, 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 17 key metrics, including the results of WalletHub’s WalletLiteracy Survey, which range 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.):

  • 15th – WalletHub’s ‘WalletLiteracy Survey’ Score
  • 20th – % of Adults Aged 18+ Who Spend More than They Earn
  • 18th – % of Adults Aged 18+ with Rainy-Day Funds
  • 18th – % of Unbanked Households
  • 14th – % of Adults Aged 18+ Paying Only Minimum on Credit Card(s)
  • 29th – % of Adults Aged 18+ Who Compare Credit Cards Before Applying
  • 18th – High-School Financial Literacy Grade

For the full report, please visit:

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