Wallet Hub, an online consumer finance resource, recently published its 2015 study on the most and least financially literate states in the U.S., ranking New York in the top 15 overall and Connecticut in the middle of the pack.
The study used 11 different categories that measured planning, habits, education and knowledge about finance, with respect to varying state factors like average credit score or the number of bankruptcies per capita.
New York ranked 11th overall and Connecticut placed 29th out of the 50 states and the District of Columbia.
New York had the No. 2 ranking for the percentage of people with a rainy day fund ”“ or money saved for when regular income is disrupted ”“ behind only Arizona.
Wallet Hub also said in a statement that $133 billion in new credit card debt has accumulated nationwide since 2012, and that only two in five adults budget their money.
