A recent report raises some major questions regarding the state of financial literacy here in Mississippi. The report was from WalletHub.
The report ranked all the states and Washington D.C. when it comes to financial literacy. In determining the rankings, the report looked at many different things regarding financial habits among a state’s residents and financial education programs in a state.
How did Mississippi fare in these rankings? Not very well. In fact, Mississippi fared worse than anywhere else. It was ranked 51st in financial literacy, the worst rank possible.
Mississippi had very poor showings in many of the financial habit factors the study looked at in determining the financial literacy rankings, including habit factors regarding: borrowing, credit card payments, rainy day funds and expenditures vs. earnings.
Do you think that the findings of this report are an accurate reflection of the state of financial literacy in Mississippi? Do you think financial literacy is lower here than in other states? Do you think bad financial habits are pretty common here in Mississippi? What do you think are some of the bad financial habits individuals here in Mississippi most need to get away from? What things do you think would be most effective in raising financial literacy in the state?
Low financial literacy and bad financial habits are some of the things, but certainly not the only things, that could lead to a person ending up with problems with debt.
Whatever has led them to the situation, when a person here in Mississippi ends up in debt struggles, it can be very important for them to have good guidance regarding what they can do to get debt relief. Providing information on the different types of options for debt relief and providing advice when it comes to such options are among the things debt relief attorneys can do for individuals who are having troubles with debt.
Source: gulflife.com, “Mississippi is least financially literate state in U.S., new report says,” April M. Havens, April 1, 2015