Maine is the 6th Most Financially Literate State
How financially literate are you? I know the answer for me would be, "Not much!" However, for a majority of Mainers, it seems that is not the case.
National Financial Literacy Month is in in April and the website WalletHub has released its report on 2016’s Most & Least Financially Literate States. They analyze financial education programs and consumer habits in each of the 50 states and the District of Columbia.
Maine ranks 6th on their list of 'Financial Literacy (1 = Most, 25 = Avg.)' Here are some of their findings:
Financial Literacy in Maine
17th – WalletHub’s ‘WalletLiteracy Survey’ Score
3rd – % of Residents Who Spend More than They Earn
25th – % of Residents with a Rainy-Day Fund
2nd – % of Unbanked Households
6th – % of Residents Borrowing from Non-Bank Lenders
30th – % of Residents Who Compare Credit Cards Before Applying
6th – Champlain University High School Financial Literacy Grade
16th – Public High School Graduation Rate
16th – FINRA Financial Literacy Survey
23rd – % of Residents with at Least a Bachelor’s Degree
See more of the full report here.