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Best and Worst States for Financial Literacy

Across gender and ages, consumers still have much to learn when it comes to financial literacy. 

According to, Americans ended 2018 with 67 billion in new credit card debt. In addition, only two in five adults actually have a budget plan. 

A FINRA Financial Capability Study found there’s a strong link between financial literacy and a focus on wealth accumulation, retirement planning and making the most of the stock market. Yet, only 21% of respondents said they experienced some sort of financial education.  

But consumers are still optimistic. Eighty-three percent of consumers said their financial circumstances have either improved or stayed the same. It sounds good, but a survey revealed that more than a third of consumers said they are falling behind on bills. 

Understanding how to manage personal finances is a critical life skill. Research possible financial literacy resources in your area whether at schools, financial institutions, websites like or even PBS programs. Experts say it’s never too early or late to learn. set out to identify the states with the best financial literacy. They looked at financial education programs, consumer habits and a WalletLiteracy Surveycomparing 15 key metrics from high school financial literacy grades to share of adults with emergency saving funds. 

Curious which states ranked the best and worst in financial literacy? Read on.

The top five states with the best WalletLiteracy Scores were: Virginia, Utah, New Hampshire, New Jersey, Minnesota

The states with the worst scores were: New Mexico, Delaware, Mississippi, Alaska, Louisiana

States with the highest share of adults with rainy-day funds included North Dakota, New Hampshire, Minnesota, Hawaii and California. The states rounding out the bottom of the list for savings were Tennessee, Mississippi, Missouri, Oklahoma, and West Virginia