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Financial planning

The 20 most financially savvy states

By Editorial Staff
May 20, 2024 5:30 AM
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Understanding money matters can help people learn from past mistakes, such as accumulating too much debt, and enable them to be better prepared for unforeseen events with severe financial ramifications, like the recent pandemic.

To find out where people have the best understanding of money matters, WalletHub rated the 50 states and Washington, D.C., on financial planning/habits and financial knowledge/education, and then combined the findings with the results of its own WalletLiteracy survey to determine a total score out of 100 (where 100 is the top score).

Beneath the total score, each state's position relative to the others is listed for each rating factor (with 1 being the top position).

Read more: In financial planning, is knowledge really power? 

In the ranking below, the top state received a total score for financial literacy of 72.46 out of 100. Scroll through to find out which states are in the top 20 and how they fared.

Source:WalletHub

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Ohio tied for 19th most financially savvy state, with a total score of 64.46.
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Delaware tied for 19th with a total score of 64.46.
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Michigan ranked 18th with a total score of 64.85.
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Indiana ranked 17th with a total score of 64.98.
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North Carolina ranked 16th with a total score of 65.18.
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Oregon ranked 15th with a total score of 65.45.
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Maine ranked 14th with a total score of 65.61.
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Vermont ranked 13th with a total score of 66.23.
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Maryland ranked 12th with a total score of 66.35.
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Florida ranked 11th with a total score of 66.47.
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Washington ranked 10th with a total score of 66.60.
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Wisconsin ranked 9th with a total score of 66.97.
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Iowa ranked 8th with a total score of 67.26.
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Utah ranked 7th with a total score of 67.35.
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New Jersey ranked 6th with a total score of 67.49.
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New Hampshire ranked 5th with a total score of 67.50.
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Colorado ranked 4th with a total score of 68.28.
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Virginia ranked 3rd with a total score of 68.44.
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Nebraska ranked 2nd with a total score of 69.10.
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Minnesota ranked 1st with a total score of 72.46.
Editorial Staff
Financial planning Tax Financial literacy
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