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The ideal client has at least some understanding of their finances — but how financially savvy they are can vary widely depending on where they live.
To find out where individuals have the least understanding of money matters, WalletHub recently rated the 50 states and Washington, D.C., on financial planning habits and financial knowledge and education. The findings were combined with the results of its WalletLiteracy test, and each state was ultimately assigned a total score out of 100.
"Too many Americans lack comprehensive financial literacy, which causes them to have lower credit scores, prevents them from getting credit with good interest rates and lowers the amount of wealth they build throughout their life, among other negative consequences," WalletHub analyst Cassandra Happe said in a release. "It's not surprising that the most financially literate states all require personal-finance education before students graduate from high school."
The states that fared the best include Minnesota, Nebraska and Virginia, which took the top three spots, with Minnesota earning the top score of 72.46, thanks in part to baking financial education into primary education, and to wage-earning adults rarely outspending what they bring in.
Read more: The 20 most financially savvy states
The following states' scores, however, signal more trouble for residents. Scroll through to find out which states are the 20 worst when it comes to financial literacy.
Source:WalletHub
