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New Jersey Ranks As One Of Most Financially Savvy States In Country

WalletHub recently ranked New Jersey at the eighth most financially-savvy state.
WalletHub recently ranked New Jersey at the eighth most financially-savvy state. Photo Credit: Flickr

April is Financial Literacy Month, and the personal finance website WalletHub did an in-depth analysis of 2016's most and least financially savvy states, to see where Americans practice the best money habits. New Jersey ranked eighth-highest overall.

WalletHub's analysts used 20 key metrics to compare the 50 states and the District of Columbia -- including annual savings-account average and to credit-card debt as a percentage of income.

Here are some of WalletHub's findings about the Garden State:

  • financial savvy, 17th -- the average was 25
  • average credit score, 3rd
  • credit usage, 7th
  • housing expenses as a percentage of median home price, 19th
  • percentage of the population spending more than they earn, 5th
  • percentage of the population with rainy-day funds, 27th
  • total debt as percentage of median income, 4th
  • student-loan debt as a percentage of income, 2nd

For the full report, as well as financial tips from WalletHub's 14 experts, click here .

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