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.):
- 31st – WalletHub's ‘WalletLiteracy Survey' Score
- 34th – % of Adults Aged 18+ Who Spend More than They Earn
- 28th – % of Adults Aged 18+ with Rainy-Day Funds
- 41st – % of Unbanked Households
- 39th – % of Adults Aged 18+ Who Compare Credit Cards Before Applying
- 39th – High-School Financial Literacy Grade
To see the full report, click here.
