Kansas is the eighth least financially literate state in the country, according to a WalletHub study released last week. WalletHub is a personal finance website.
The study, 2015’s Most & Least Financially Literate States, analyzed financial education programs and consumer habits in all 50 states and the District of Columbia.
Financial Literacy in Kansas (1=Best, 25=Avg.):
• 44th – Percentage of People Who Spend More Than They Make
• 40th – Percentage of People with a Rainy Day Fund
• 22nd – Percentage of Unbanked Households
• 24th – Percentage of People Borrowing from Non-Bank Lenders
• 46th – Percentage Paying Only Minimum on Credit Card
• 38th – Percentage Comparing Credit Cards Before Applying
• 26th – FINRA Financial Literacy Survey
• 31st – Number of Library Branches per 100,000 Library Service Population