South Carolina Is 2023’s 7th Least Financially Literate State – WalletHub Study

WalletHub this week released their rankings for 2023’s Most & Least Financially Literate States and South Carolina ranked as the 7th least financially literate state in the country.

The study uses a data set of 17 key metrics, which range from high-school financial literacy grade to the share of adults with a rainy-day fund. The metrics also include the results of WalletHub’s WalletLiteracy Survey.

Financial Literacy in South Carolina (1=Most Financially Literate, 25=Avg.):

• 31^st – WalletHub’s ‘WalletLiteracy Survey’ Score
• 34^th – % of Adults Aged 18+ Who Spend More than They Earn
• 28^th – % of Adults Aged 18+ with Rainy-Day Funds
• 41^st – % of Unbanked Households
• 39^th – % of Adults Aged 18+ Who Compare Credit Cards Before Applying
• 39^th – High-School Financial Literacy Grade

To see the full report, click here.

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