NEW MEXICO (KRQE) – A recent WalletHub study ranks the most and least financially literate states, including all 50 states and the District of Columbia. New Mexico ranks low on the list, in spot 49 out of 51.
The states are ranked based on 17 key metrics, according to WalletHub. A couple of the categories are “high-school financial literacy grade” and “share of adults with rainy-day funds.”
At the top of the list, as the most financially literate state, is Nebraska. At the bottom of the list, as the least financially literate state, is Arkansas.
New Mexico ranks particularly low in “public high-school graduate rate” and “share of unbanked households.” WalletHub also has correlation analyses in its study, one of which shows “state education ranking” with “overall financial literacy,” and the other shows “credit score ranking” with “overall financial literacy.”
Top 10 Most Financially Literate States
- Nebraska
- Utah
- Virginia
- Colorado
- Minnesota
- Iowa
- Washinton
- Maine
- North Carolina
- Ohio
