NC is among the top money-savvy states, study says. See where it ranked
North Carolina is among the most money-savvy states in the nation.
The Tarheel State is the ninth-most financially literate state, according to a report from WalletHub, a personal finance website.
To rank each location, WalletHub compared them across three categories: financial planning and habits, financial knowledge and education, and results from its WalletLiteracy Survey.
According to the report, North Carolina received its lowest marks on the Wallet Literacy Survey, at No. 37 overall. The survey asked questions on the core concepts of money management, including credit scores, investments, and taxes.
The state ranked 34th in financial knowledge and education based on factors such as high school financial literacy grades, public high school graduation rates, and the share of adults with at least a bachelor’s degree.
North Carolina has the highest high school financial literacy grades in the country, according to the American Public Education Foundation.
According to the latest U.S. Census data, nearly 22% of adults aged 25 or older in North Carolina hold bachelor’s degrees.
North Carolina was ranked the highest in financial planning and habits, at No. 4. The score was calculated based on factors like a share of households that lacks adequate access to traditional financial services, such as credit and loans, and adults who spend more than they earn.
Just 3.3% of households in the state did not, according to the latest numbers from the Federal Deposit Insurance Corporation.
Nebraska was ranked No. 1 on the report, followed by Utah, Virginia, Colorado, and Minnesota.
