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WalletHub: New Jersey is 2021’s 5th most financially literate state

NEW JERSEY – New Jersey is 2021’s 5th most financially literate state, according to a study done by WalletHub.

With April being National Financial Literacy Month and financial responsibility especially important during the COVID-19 pandemic, the free credit score website WalletHub Wednesday released its report on 2021’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 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.):

    • 9th – 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
    • 17th – High-School Financial Literacy Grade

Source: WalletHub
Here are the top 5 most financially literate states:
  1. Virginia
  2. Utah
  3. Colorado
  4. New Hampshire
  5. New Jersey
Here are the top 5 least financially literate states:
  1. Alaska
  2. Louisiana
  3. Arkansas
  4. Mississippi
  5. New Mexico

To view the full report, click here

Jay Edwards

Born and raised in Northwest NJ, Jay has a degree in Communications and has had a life-long interest in local radio and various styles of music. Jay has held numerous jobs over the years such as stunt car driver, bartender, voice-over artist, traffic reporter (award winning), NY Yankee maintenance crewmember and peanut farm worker. His hobbies include mountain climbing, snowmobiling, cooking, performing stand-up comedy and he is an avid squirrel watcher. Jay has been a guest on America’s Morning Headquarters,program on The Weather Channel, and was interviewed by Sam Champion.

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