How savvy are you when it comes to money matters? One good indicator could be your home state. Personal finance website WalletHub.com ranked the 50 states and the District of Columbia based on residents' abilities "when it comes to maintaining their household balance sheets." This latest study follows, and incorporates data from, WalletHub.com's 2016 ranking of states' financial literacy levels.
Analysts compared the jurisdictions across 20 "key metrics that represent financial savvy" — or a serious lack of it. According to WalletHub.com, its data set ranges from annual savings account averages and personal bankruptcy rates to credit card debt as a percentage of income. CNBC.com shares the top five most savvy — and bottom five least knowledgeable — U.S. states when it comes to dollars and sense, from WalletHub.com's list.
— By CNBC's Kenneth Kiesnoski
Posted 19 April 2016