CT Among Most 'Financially Savvy' States: New Ranking

Sure, Connecticut remains mired in a political and fiscal battle over the state's budget, but put another way, you could also say that it pays to live in the Constitution State.

Connecticut is the nation's third most "financially savvy" state, writes personal finance website WalletHub in a new ranking. Two states to the north, Massachusetts (#1) and New Hampshire (#2), are ahead of Connecticut, with Minnesota in fourth place and New Jersey in fifth.

Despite being home to Wall Street, New York came in 10th.

Connecticut's best score was in "Debt & Spending," where it came in fourth, and its worst score was in "Credit," where it ranked 18th.

"Financial literacy is key to sound financial health," writes WalletHub's senior writer Richie Bernardo. "But financial savvy is what differentiates the comfortable from the truly stable."

To come up with its ranking, WalletHub studied data from 23 criteria, looking at "median credit score to annual savings-account average to credit-card debt as a share of income," among others. To read WalletHub's methodology, click here.

At the tail end, the nation's least financially savvy state is Mississippi, followed by Arkansas, New Mexico, Oklahoma and West Virginia.

To view WalletHub's Most & Least Financially Savvy States (for 2017), click here.

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