California Is 2017’s 8th Financially Savviest State – WalletHub Study

With October being National Financial Planning Month and about two in five U.S. adults grading their knowledge of personal finance a “C” or worse, the personal-finance website WalletHub conducted an in-depth analysis of 2017’s Most & Least Financially Savvy States.

In order to determine where Americans practice the best money habits, WalletHub’s analysts compared the 50 states and the District of Columbia across 23 key metrics that speak to their residents’ financial savvy or the lack thereof. The data set ranges from annual savings-account average to personal-bankruptcy rate to credit-card debt as a share of income.
 
Financial Savvy in California (1=Most; 25=Avg.)

  • 18th – Median Credit Score
  • 2nd – Foreclosure Rate
  • 5th – % of Credit Usage
  • 2nd – Housing Expenses as % of Median Home Price
  • 29th – % of Unbanked Households
  • 21st – Delinquency Rate on Mortgages, Auto Loans, Student Loans & Credit Cards
  • 24th – % of Adults Spending More than They Earn
  • 5th – % of Adults with Rainy-Day Funds
  • 6th – Total Debt as % of Median Income

For the full report, please visit: https://wallethub.com/edu/most-and-least-financially-savvy-states/20496/

Check out WalletHub


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One Response to California Is 2017’s 8th Financially Savviest State – WalletHub Study

  1. William Hicks September 28, 2017 at 8:25 am

    IF the new Tax Reforms are put into effect, where California can’t count on the State Tax to be deductible on The Federal Tax, how will that affect California taxpayers?

    Reply

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