Iowa recently earned a B-plus grade on the 2016 National Report Card on Adult Financial Literacy released by Champlain College in Vermont. Iowa was among the top 10 states in the nation, with no state receiving higher than an A-minus.
Each state’s grade was based on 59 data points from 18 national organizations. These data points were in the categories of financial knowledge, credit, saving and spending, retirement readiness and other investing, and protection and insurance.
Although Iowa was of the top 10 states for financial literacy, the state has room for improvement. Iowa performed well in the categories of credit (A) and saving and spending (A), but can improve tremendously in the areas of protection and insurance (B), financial knowledge (B-minus), and retirement readiness (C).
To learn more about Champlain College’s National Report Card on Adult Financial Literacy and to read the full report, click here.