(KNSI) – Minnesotans know their dollars and cents.
The website WalletHub has ranked Minnesota best in financial literacy. Three broad metrics are used to calculate the overall score. Minnesota was in the top seven in all three. Our best performance was in the Financial Planning and Habits category, where the state was second overall.
Minnesota was followed by Colorado, Nebraska, Virginia, and Wisconsin. The gap between Minnesota and Colorado was a whopping 3.16 points, greater than the distance between Colorado and Utah, which was in 13th place.
Minnesota’s ranking was bolstered by a robust financial education requirement for high school students. Only about 15% of adults in the state spend more than they take in. That helps residents build credit, with a collective FICO score of 751, the best in the country. It also breeds optimism for the future. Roughly 37% of Minnesotans are confident they can meet their financial goals, the second-highest in America.
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