NJ Residents Considered Amongst The Best In Money Management
New Jerseyans can proudly say that they are pretty decent with money management. According to Wallet Hub, the state of New Jersey takes a very good spot when it comes to financial literacy.
After this pandemic, we all found out that being responsible with our money and just financially stabled was something that we really have to prioritize moving forward. Wallet Hub shared rankings of every state in the country with most to least financial literacy and the Garden State took the 5th spot overall.
It was stated on Wallet Hub that they had to evaluate each state by its financial-education programs and consumer habits. Some metrics that were used included checking high-school financial literacy grades as well as the share of adults with rainy-day funds. Unfortunately, we found out that many of us were not ready for tough times and this COVID-19 pandemic put us to the test.
Financial Knowledge & Education and Financial Planning & Habits were 2 other categories that every state was ranked on as well. The state of New Jersey landed in great spots. In both of those categories, the Garden State took the 9th spot.
As for Pennsylvania, the state lands right in the middle taking the 25th spot overall. It also took the 30th spot for Financial Planning & Habits and 18th for Financial Knowledge & Education.
If you are curious to know who has more financial literacy men or women, here is the answer. According to Wallet Hub, men scored 70.76 on WalletLiteracy and women scored 64.84.