Americans’ Financial Literacy Across States: A Deep Dive
Financial literacy is a crucial aspect of managing one’s money effectively. But how well are Americans really doing in this area, and how does it vary between the states?
To answer these questions, Visual Capitalist’s Pallavi Rao compiled a financial literacy map using data from WalletHub, a personal finance services company. The map is based on data from 2025 and ranks states on three main benchmarks: financial education, financial planning (or consumer habits), and the performance of WalletHub’s users on their financial literacy survey.
Each state is scored out of 100, with Minnesota emerging as the most financially literate state with 73 points. Some key indicators where Minnesota excelled include high-schoolers being required to take at least one personal finance program, only 15% of surveyed individuals spending more than they earn (the lowest across all states), and boasting the highest median credit score in the country at 751.
On the flip side, Arkansas tested the worst, scoring only 53 points. This low score was largely influenced by the state’s poor performance on WalletHub’s financial literacy survey.
The map also provides insights into each state’s rank within the three main benchmarks, shedding light on notable trends across different regions. For instance, Colorado and Nebraska mandate personal finance education in high school, while states like Kentucky, Oklahoma, and Arkansas have the lowest percentage of adults with emergency cash reserves.
One often overlooked aspect of financial literacy is managing debt. Despite the hype around investing in the markets, WalletHub’s benchmarks prioritize debt management, a crucial component of overall financial health. With America’s credit card debt surpassing $1 trillion in 2023 and the average household carrying around $5,000 in outstanding credit card balances, effectively managing debt has become more challenging, especially in the wake of post-pandemic inflation.
For more insights on money management in the United States, be sure to check out Visual Capitalist’s resources, such as America’s Average Bank Account Balance by State, for a comprehensive overview.
With financial literacy playing a pivotal role in individuals’ financial well-being, understanding how different states fare in this area can provide valuable insights for policymakers, educators, and individuals looking to enhance their financial knowledge and skills.