Minnesota Gets A Great New Title

Did you know that April is National Financial Literacy Month. I think we all make resolutions to be a little bit better with our money. We make goals to save more and spend less and it looks like we might be putting our money where our mouth is this year.

What Is Financial Literacy?

If you are financially literate, that means you have great money skills and behaviors. It also means that you can make well-informed decisions about money and your finances, like investing or saving.

Considering how expensive everything is these days, I am guessing many more people will start to educate themselves about finances, saving and investing.

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How Financially Literate Is Minnesota?

Surprisingly, Minnesota was just named the most financially literate state in the entire country. WalletHub conducted this study and released it on Wednesday (April 3rd), giving Minnesota this great title for 2024.

What Makes Us So Financially Smart

According to this study, Minnesotans have great sustainable spending habits. The study also credits the fact that we have to learn about money in school and take at least one personal-finance class before graduation. I think this is something that was implemented after I graduated!

RELATED: Minnesota City One Of The Healthiest Places To Live

Minnesota also has few residents that spend more than they make, which often leads to loads of credit card debt. We also have great credit scores on average and don't use credit cards as much as the rest of the country.

What About Wisconsin?

Wisconsin has a reason to celebrate as well! Wisconsin came in at number nine on the list, just cracking the top ten. Hey, being smart about money is no easy feat so being so high on the list is impressive.

RELATED: Are Middle Class Minnesotans Actually Middle Class?

I think we can all be a little smarter about money, especially in today's day and age when everything is so expensive. It's never too late to make this a resolution for 2024, no?