New Hampshire and Utah Top List of Most Financially Literate States

A new report sheds important light on the range of U.S. states making important strides in financial literacy. WalletHub published its list of the most financially literacy states based on its analysis of consumer habits and financial education initiatives in each U.S. state, with New Hampshire, Utah, Virginia, New Jersey and Minnesota topping the ranking.

The report comes at a key time in America, with the nation celebrating the annual Financial Literacy Month this April after consumers spent the prior two years incurring over $70 billion in new credit card debt. At the same time only roughly forty percent of Americans have emergency savings, and only two in five adults maintain a personal finance budget. Given these statistics, it is refreshing to see a strong showing of states scoring well in the WalletHub report.

Financial literacy professionals are promulgating the financial education success stories all across the U.S., even in the lower ranking states, which also have many initiatives focused on increasing financial literacy among individuals and families. Among those states are Rhode Island, New Mexico, Louisiana, Nevada, Arkansas and Mississippi. Many contend that the groundswell of financial education programs taking place throughout the U.S. will bode very well for the financial literacy movement in country in the months and years ahead.

More information on the WalletHub report is available here.