Louisiana Ranks High in Another Embarrassing Category

Louisiana and its overall financial health continues to deteriorate.

Congratulations, Pelican State residents, for 2023, you are America’s second least financially literate state.

This is according to a ranking that WalletHub published Wednesday.

But there is SOME good news  — Arkansas (and only Arkansas) ranked lower than the Pelican State.

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“After the Great Recession, it became clear that more people needed to learn financial literacy. The housing-market collapse and following financial crisis reminded Americans of our obsession with debt and the dangers of quick access to finances for under-informed consumers,” according to WalletHub’s analysis.

“The importance for people to be smart about their finances became even more pronounced during the COVID-19 pandemic and remains crucial in the present during this period of high inflation. But how much have we learned from past mistakes, and what are we doing to help future generations avoid repeating them? Not enough, it would seem.”

The United States ended 2022 with more than $1 trillion in total credit-card debt. Fewer than half of adults nationwide even bother to budget their regular expenses, WalletHub said.

WalletHub analyzed financial-education programs and consumer habits — combined with the results of WalletHub’s proprietary WalletLiteracy Survey — in each of the 50 states and the District of Columbia.

New Mexico ranked below Louisiana, followed by Oklahoma, Mississippi, Kentucky, South Carolina, South Dakota, West Virginia, Nevada, Connecticut, and Alaska.


Nebraska, meanwhile. ranked as the nation’s most financially literate state, followed by Utah, Virginia, Colorado, Minnesota, Iowa, Washington state, Maine, North Carolina, and Ohio.

As The Hayride reported last month, Louisiana ranked 10th among the nation’s most federally-dependent states.

The most recent U.S. Census numbers for Louisiana show the state has nearly 4.6 million people and a medium household income of $53,571. The state also has a Per Capita income of $30,340. Exactly 19.6 percent of Louisiana residents live in poverty.



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