April is National Financial Literacy Month

MITCHELL, S.D.(KMIT)- April is National Financial Literacy Month, and a new study by WalletHub shows that South Dakota is one of the least financially literate states.  Jill Gonzalez with WalletHub says nearly two dozen key metrics were used in the study.

She talks about where South Dakota was deficient.

Gonzalez says there are reasons for the state’s poor rating.

Some of South Dakota’s neighbors fared much better in the survey.  Nebraska was the most financially literate state, with Minnesota fifth and Iowa sixth.  Minnesota also had the lowest share of residents who spend more than they earn.