The cost of making mistakes is just too high. Financial literacy is not an absolute state; it is a continuum of … It is likely too soon to judge the results in terms of behavior of the general population. The Delta Region of Arkansas along with the Missouri boot hill have median income levels that are 60-70% of the median level in the United States. Here are some of the factors that pose challenges for personal finance education programs: One possible explanation for the mixed outcomes is that states with the worst personal finance conditions might be the most driven to put personal finance education in place. Employees have seen a dramatic shift from pension plans to 401(k) plans. Morrison from the CEE explains the struggle to get states to adopt such requirements: "The biggest obstacle we hear is no room in the curriculum." Each state also receives a grade for each of the 59 data points. The Ascent does not cover all offers on the market. What exactly does personal finance education mean? Alaska, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Hawaii, Illinois, Indiana, Kansas, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Montana, Nebraska, Nevada, New Mexico, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Vermont, Washington, Wisconsin, and Wyoming. That allowed the averages for each group to be compared. We have not reviewed all available products or offers. These are basic skills that most adults will use over and over for decades to come. >> Debt Reduction Calculator: When will my credit card be paid off? Are you interested in applying to the nursing prog. As a result, just eight states have had personal finance requirements in place since 2009. Which States Are the Most Financially Literate? We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Alabama, Arizona, Georgia, Idaho, Iowa, Kentucky, Michigan, Mississippi, Missouri, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, South Carolina, Tennessee, Texas, Utah, and Virginia. A new study by MoneyRates.com found that, among these 21 states, there are sharply different outcomes in terms of the financial behavior of their residents. Financial Literacy and Pre-Purchase Counseling by Illinois Housing Development Authority. To measure the financial behavior of each group's residents, MoneyRates.com looked at average credit card balances and personal bankruptcy rates. And the U.S. is tied for 14th in the world in the percentage of adults who are financially literate. Consumer Financial Protection Bureau (CFPB) Mortgages Resources: Whether you’re thinking of buying a home, already have a home loan, or are having trouble paying your mortgage, we have resources to help you every step of the way. 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