{"id":1535522,"date":"2025-05-12T09:45:00","date_gmt":"2025-05-12T13:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1535522"},"modified":"2025-05-12T09:45:00","modified_gmt":"2025-05-12T13:45:00","slug":"minnesota-is-the-most-financially-literate-state-in-the-us","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/minnesota-is-the-most-financially-literate-state-in-the-us\/1535522\/","title":{"rendered":"Minnesota Is The Most Financially Literate State In The US"},"content":{"rendered":"

Minnesota Is The Most Financially Literate State In The US<\/span><\/p>\n

\n

How well are Americans managing their money, and how does it vary between the states?<\/strong><\/p>\n

This financial literacy map, via Visual Capitalist’s Pallavi Rao, <\/a>attempts to answer both questions using 2025 data from\u00a0WalletHub<\/a>, a personal finance services company.<\/p>\n

They ranked and scored states on three main benchmarks: financial education, financial planning (or consumer habits), and how Wallethub\u2019s own users performed on their financial literacy survey.<\/p>\n

\u2139\ufe0f These benchmarks are further subdivided into 17 metrics (credit score, savings, personal finance courses, etc.) and are weighted differently. Please read the source\u2019s methodology section for a full breakdown.<\/em><\/p>\n

<\/a><\/p>\n

The Most Financially Savvy U.S. State<\/h2>\n

Minnesota<\/strong>\u00a0is the most financially literate U.S. state with 73 points, according to WalletHub\u2019s latest analysis.<\/p>\n

<\/a><\/p>\n

Here\u2019s some sub indicators where Minnesota outperformed the rest of the country.<\/p>\n

High-schoolers must take at least one personal finance program.
\n\tOnly\u00a015%<\/strong>\u00a0of the surveyed Minnesotans spent more than they made\u2014the lowest across all states.
\n\tHighest median credit score in the country\u00a0(751)<\/strong>.<\/p>\n

And here\u2019s how each state scores out of 100. Figures are rounded.<\/p>\n

Rank
\n\t\t\tState
\n\t\t\tState Code
\n\t\t\tTotal Score
\n\t\t\t(Out of 100)
\n\t\t1
\n\t\t\tMinnesota
\n\t\t\tMN
\n\t\t\t73
\n\t\t2
\n\t\t\tColorado
\n\t\t\tCO
\n\t\t\t69
\n\t\t3
\n\t\t\tNebraska
\n\t\t\tNE
\n\t\t\t69
\n\t\t4
\n\t\t\tVirginia
\n\t\t\tVA
\n\t\t\t69
\n\t\t5
\n\t\t\tWisconsin
\n\t\t\tWI
\n\t\t\t68
\n\t\t6
\n\t\t\tNew Hampshire
\n\t\t\tNH
\n\t\t\t68
\n\t\t7
\n\t\t\tIowa
\n\t\t\tIA
\n\t\t\t67
\n\t\t8
\n\t\t\tWashington
\n\t\t\tWA
\n\t\t\t67
\n\t\t9
\n\t\t\tVermont
\n\t\t\tVT
\n\t\t\t67
\n\t\t10
\n\t\t\tNew Jersey
\n\t\t\tNJ
\n\t\t\t67
\n\t\t11
\n\t\t\tMaryland
\n\t\t\tMD
\n\t\t\t67
\n\t\t12
\n\t\t\tFlorida
\n\t\t\tFL
\n\t\t\t66
\n\t\t13
\n\t\t\tUtah
\n\t\t\tUT
\n\t\t\t66
\n\t\t14
\n\t\t\tPennsylvania
\n\t\t\tPA
\n\t\t\t65
\n\t\t15
\n\t\t\tMaine
\n\t\t\tME
\n\t\t\t65
\n\t\t16
\n\t\t\tMichigan
\n\t\t\tMI
\n\t\t\t65
\n\t\t17
\n\t\t\tOregon
\n\t\t\tOR
\n\t\t\t65
\n\t\t18
\n\t\t\tNorth Carolina
\n\t\t\tNC
\n\t\t\t65
\n\t\t19
\n\t\t\tOhio
\n\t\t\tOH
\n\t\t\t65
\n\t\t20
\n\t\t\tIndiana
\n\t\t\tIN
\n\t\t\t65
\n\t\t21
\n\t\t\tMissouri
\n\t\t\tMO
\n\t\t\t65
\n\t\t22
\n\t\t\tArizona
\n\t\t\tAZ
\n\t\t\t64
\n\t\t23
\n\t\t\tMassachusetts
\n\t\t\tMA
\n\t\t\t64
\n\t\t24
\n\t\t\tKansas
\n\t\t\tKS
\n\t\t\t64
\n\t\t25
\n\t\t\tConnecticut
\n\t\t\tCT
\n\t\t\t64
\n\t\t26
\n\t\t\tDelaware
\n\t\t\tDE
\n\t\t\t64
\n\t\t27
\n\t\t\tNorth Dakota
\n\t\t\tND
\n\t\t\t64
\n\t\t28
\n\t\t\tWest Virginia
\n\t\t\tWV
\n\t\t\t63
\n\t\t29
\n\t\t\tTexas
\n\t\t\tTX
\n\t\t\t63
\n\t\t30
\n\t\t\tIdaho
\n\t\t\tID
\n\t\t\t63
\n\t\t31
\n\t\t\tRhode Island
\n\t\t\tRI
\n\t\t\t63
\n\t\t32
\n\t\t\tIllinois
\n\t\t\tIL
\n\t\t\t62
\n\t\t33
\n\t\t\tGeorgia
\n\t\t\tGA
\n\t\t\t62
\n\t\t34
\n\t\t\tWyoming
\n\t\t\tWY
\n\t\t\t62
\n\t\t35
\n\t\t\tNew York
\n\t\t\tNY
\n\t\t\t61
\n\t\t36
\n\t\t\tNevada
\n\t\t\tNV
\n\t\t\t61
\n\t\t37
\n\t\t\tSouth Carolina
\n\t\t\tSC
\n\t\t\t61
\n\t\t38
\n\t\t\tMontana
\n\t\t\tMT
\n\t\t\t60
\n\t\t39
\n\t\t\tNew Mexico
\n\t\t\tNM
\n\t\t\t60
\n\t\t40
\n\t\t\tAlabama
\n\t\t\tAL
\n\t\t\t60
\n\t\t41
\n\t\t\tHawaii
\n\t\t\tHI
\n\t\t\t60
\n\t\t42
\n\t\t\tDistrict of Columbia
\n\t\t\tDC
\n\t\t\t58
\n\t\t43
\n\t\t\tCalifornia
\n\t\t\tCA
\n\t\t\t58
\n\t\t44
\n\t\t\tAlaska
\n\t\t\tAK
\n\t\t\t58
\n\t\t45
\n\t\t\tLouisiana
\n\t\t\tLA
\n\t\t\t58
\n\t\t46
\n\t\t\tMississippi
\n\t\t\tMS
\n\t\t\t58
\n\t\t47
\n\t\t\tTennessee
\n\t\t\tTN
\n\t\t\t58
\n\t\t48
\n\t\t\tKentucky
\n\t\t\tKY
\n\t\t\t57
\n\t\t49
\n\t\t\tSouth Dakota
\n\t\t\tSD
\n\t\t\t56
\n\t\t50
\n\t\t\tOklahoma
\n\t\t\tOK
\n\t\t\t54
\n\t\t51
\n\t\t\tArkansas
\n\t\t\tAR
\n\t\t\t53<\/p>\n

Meanwhile,\u00a0Arkansas<\/strong>\u00a0tested the worst, with 53 points. Its score is impacted by having the second-worst performance on WalletHub\u2019s financial literacy survey.<\/p>\n

And here\u2019s each state\u2019s rank within the three main benchmarks.<\/p>\n

Rank
\n\t\t\tState
\n\t\t\tWalletLiteracy Rank
\n\t\t\t(50% Weight)
\n\t\t\tFinancial Planning
\n\t\t\tRank (25% Weight)
\n\t\t\tFinancial Knowledge
\n\t\t\tRank (25% Weight)
\n\t\t1
\n\t\t\tMinnesota
\n\t\t\t7
\n\t\t\t2
\n\t\t\t3
\n\t\t2
\n\t\t\tColorado
\n\t\t\t8
\n\t\t\t1
\n\t\t\t20
\n\t\t3
\n\t\t\tNebraska
\n\t\t\t9
\n\t\t\t25
\n\t\t\t6
\n\t\t4
\n\t\t\tVirginia
\n\t\t\t31
\n\t\t\t9
\n\t\t\t1
\n\t\t5
\n\t\t\tWisconsin
\n\t\t\t14
\n\t\t\t6
\n\t\t\t14
\n\t\t6
\n\t\t\tNew Hampshire
\n\t\t\t4
\n\t\t\t8
\n\t\t\t23
\n\t\t7
\n\t\t\tIowa
\n\t\t\t10
\n\t\t\t27
\n\t\t\t15
\n\t\t8
\n\t\t\tWashington
\n\t\t\t12
\n\t\t\t3
\n\t\t\t30
\n\t\t9
\n\t\t\tVermont
\n\t\t\t5
\n\t\t\t20
\n\t\t\t26
\n\t\t10
\n\t\t\tNew Jersey
\n\t\t\t15
\n\t\t\t29
\n\t\t\t12
\n\t\t11
\n\t\t\tMaryland
\n\t\t\t13
\n\t\t\t11
\n\t\t\t22
\n\t\t12
\n\t\t\tFlorida
\n\t\t\t37
\n\t\t\t16
\n\t\t\t9
\n\t\t13
\n\t\t\tUtah
\n\t\t\t47
\n\t\t\t10
\n\t\t\t2
\n\t\t14
\n\t\t\tPennsylvania
\n\t\t\t26
\n\t\t\t23
\n\t\t\t17
\n\t\t15
\n\t\t\tMaine
\n\t\t\t1
\n\t\t\t28
\n\t\t\t40
\n\t\t16
\n\t\t\tMichigan
\n\t\t\t22
\n\t\t\t22
\n\t\t\t19
\n\t\t17
\n\t\t\tOregon
\n\t\t\t46
\n\t\t\t21
\n\t\t\t4
\n\t\t18
\n\t\t\tNorth Carolina
\n\t\t\t35
\n\t\t\t37
\n\t\t\t8
\n\t\t19
\n\t\t\tOhio
\n\t\t\t29
\n\t\t\t43
\n\t\t\t7
\n\t\t20
\n\t\t\tIndiana
\n\t\t\t33
\n\t\t\t40
\n\t\t\t10
\n\t\t21
\n\t\t\tMissouri
\n\t\t\t40
\n\t\t\t39
\n\t\t\t5
\n\t\t22
\n\t\t\tArizona
\n\t\t\t18
\n\t\t\t33
\n\t\t\t25
\n\t\t23
\n\t\t\tMassachusetts
\n\t\t\t20
\n\t\t\t7
\n\t\t\t39
\n\t\t24
\n\t\t\tKansas
\n\t\t\t11
\n\t\t\t35
\n\t\t\t35
\n\t\t25
\n\t\t\tConnecticut
\n\t\t\t50
\n\t\t\t5
\n\t\t\t11
\n\t\t26
\n\t\t\tDelaware
\n\t\t\t28
\n\t\t\t15
\n\t\t\t29
\n\t\t27
\n\t\t\tNorth Dakota
\n\t\t\t23
\n\t\t\t13
\n\t\t\t37
\n\t\t28
\n\t\t\tWest Virginia
\n\t\t\t25
\n\t\t\t47
\n\t\t\t13
\n\t\t29
\n\t\t\tTexas
\n\t\t\t41
\n\t\t\t38
\n\t\t\t16
\n\t\t30
\n\t\t\tIdaho
\n\t\t\t39
\n\t\t\t19
\n\t\t\t28
\n\t\t31
\n\t\t\tRhode Island
\n\t\t\t32
\n\t\t\t18
\n\t\t\t34
\n\t\t32
\n\t\t\tIllinois
\n\t\t\t27
\n\t\t\t32
\n\t\t\t33
\n\t\t33
\n\t\t\tGeorgia
\n\t\t\t34
\n\t\t\t44
\n\t\t\t21
\n\t\t34
\n\t\t\tWyoming
\n\t\t\t3
\n\t\t\t30
\n\t\t\t43
\n\t\t35
\n\t\t\tNew York
\n\t\t\t24
\n\t\t\t17
\n\t\t\t42
\n\t\t36
\n\t\t\tNevada
\n\t\t\t45
\n\t\t\t31
\n\t\t\t24
\n\t\t37
\n\t\t\tSouth Carolina
\n\t\t\t30
\n\t\t\t34
\n\t\t\t41
\n\t\t38
\n\t\t\tMontana
\n\t\t\t2
\n\t\t\t36
\n\t\t\t47
\n\t\t39
\n\t\t\tNew Mexico
\n\t\t\t21
\n\t\t\t48
\n\t\t\t36
\n\t\t40
\n\t\t\tAlabama
\n\t\t\t44
\n\t\t\t42
\n\t\t\t27
\n\t\t41
\n\t\t\tHawaii
\n\t\t\t19
\n\t\t\t12
\n\t\t\t48
\n\t\t42
\n\t\t\tDistrict of Columbia
\n\t\t\t17
\n\t\t\t24
\n\t\t\t49
\n\t\t43
\n\t\t\tCalifornia
\n\t\t\t42
\n\t\t\t4
\n\t\t\t46
\n\t\t44
\n\t\t\tAlaska
\n\t\t\t6
\n\t\t\t14
\n\t\t\t51
\n\t\t45
\n\t\t\tLouisiana
\n\t\t\t43
\n\t\t\t49
\n\t\t\t32
\n\t\t46
\n\t\t\tMississippi
\n\t\t\t36
\n\t\t\t51
\n\t\t\t31
\n\t\t47
\n\t\t\tTennessee
\n\t\t\t49
\n\t\t\t41
\n\t\t\t38
\n\t\t48
\n\t\t\tKentucky
\n\t\t\t51
\n\t\t\t45
\n\t\t\t18
\n\t\t49
\n\t\t\tSouth Dakota
\n\t\t\t16
\n\t\t\t26
\n\t\t\t50
\n\t\t50
\n\t\t\tOklahoma
\n\t\t\t38
\n\t\t\t50
\n\t\t\t45
\n\t\t51
\n\t\t\tArkansas
\n\t\t\t48
\n\t\t\t46
\n\t\t\t44<\/p>\n

There\u2019s some further insights to explain some noticeable geographic trends.<\/p>\n

Colorado and Nebraska also require personal finance education in high school.
\n\tKentucky, Oklahoma, and Arkansas have the lowest share of adults with emergency cash.
\n\tA higher share of Southern state residents borrow from non-bank lenders, affecting their financial planning score.<\/p>\n

The Overlooked Part of Financial Literacy: Managing Debt<\/h2>\n

While investing in the markets is all the rage\u2014particularly with the rise of no-fee platforms\u2014WalletHub\u2019s benchmarks prioritize an often overlooked part of money management: debt.<\/p>\n

America\u2019s credit card debt collectively\u00a0crossed $1 trillion<\/a>\u00a0in 2023, and it\u2019s only been growing since.<\/p>\n

On average, American households have about $5,000 in\u00a0outstanding credit card balances<\/a>, which can take anywhere between one to two years to pay off depending on monthly incomes.<\/p>\n

Of course, managing expenditures to avoid or reduce debt has been particularly difficult in the multiple years of post-pandemic inflation.<\/p>\n

Need more money management insights about the United States? Check out:\u00a0America\u2019s Average Bank Account Balance, by State<\/a>\u00a0for a quick overview.<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 05\/12\/2025 – 05:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/minnesota-most-financially-literate-state-us<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Minnesota Is The Most Financially Literate State In The US How well are Americans managing their money, and how does it vary between the states?…<\/p>\n","protected":false},"author":0,"featured_media":1535523,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1535522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1535522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1535522"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1535522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1535523"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1535522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1535522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1535522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}