Minnesota Tops The Nation In Financial Literacy And Credit Scores

When it comes to financial literacy, Minnesota stands tall over all of the other states.

In January, I told you about Minnesota's best-in-nation credit score of 723. Since that time Minnesotans' average credit score has actually jumped to 750.

With a mark like that, you might assume that Minnesotans are great at handling their money, and you would be right!

AMERICAN DEBT PILING UP 

WalletHub notes that Americans ended 2025 with nearly $1.39 trillion in credit card debt, adding that 40% of US residents say they plan on adding more credit card debt in 2026.

“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's Chip Lupo said.  "Because financial literacy is so essential, states should prioritize teaching it from a young age. It’s not surprising that the most financially literate states all require personal-finance education before students graduate from high school.”

Using 17 key metrics, WalletHub analyzed financial education programs and consumer habits in all 50 United States to determine which were best at financial literacy.

WHAT MAKES MINNESOTANS GOOD WITH MONEY?

Minnesota finished in the top overall spot in the study with a first-place spot in Financial Knowledge, sixth place in Financial Planning and seventh place in 'Wallet Literacy,' which is WalletHub's proprietary survey.

Minnesota received high marks thanks to a robust financial education curriculum for K-12 students and the third-lowest percentage of adults who spend more than they make at 23%.

Finally, 52% of Minnesotans report having a healthy 'rainy day fund' to cover at least three months of exceptions- the third-highest rate in the country.

Minnesota residents also boast the fourth-best public school graduation rate and finished the study third in sustainable spending habits.