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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