WASHINGTON, D.C. - Minnesota and North Dakota are among 2019's top 10 most financially literate states, according to WalletHub.

The credit score website recently released its report of Most and Least Financially Literate States, analyzing the financial education programs and consumer habits of the 50 states and the District of Columbia.

Minnesota came in fifth in the ranking, while North Dakota was ninth.

Topping the list of most financially literate states was Virginia, followed by Utah, New Hampshire and New Jersey. In the sixth spot was Maryland, followed by Maine and Colorado. New York rounded out the top 10.

The least financially literate state was Louisiana. In ascending order from there were Alaska, Mississippi, Delaware, New Mexico, Oklahoma, Kentucky, Hawaii, South Dakota and Rhode Island.

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North Dakota has the highest share of residents with rainy-day funds, 55.5 percent, which is 1.5 times higher than in West Virginia, the state with the lowest at 37.9 percent.

Vermont and Minnesota have the lowest share of unbanked households at 1.5 percent, which is 10.5 times lower than in Mississippi, the state with the highest at 15.8 percent.

WalletHub says that after the Great Recession, it became clear that more people needed to learn financial literacy. The housing-market collapse and following financial crisis reminded Americans of their obsession with debt and the dangers of quick access to finances for under-informed consumers, WalletHub said.

In 2018, Americans held more than $1 trillion in revolving credit debt, the bulk of it in credit cards, according to cardrates.com. The average household has around $8,161 in revolving debt, approximately $6,577 of which is credit card debt. With nearly 248 million Americans over the age of 18, that comes out to $3,353 in credit card balances per U.S. adult, cardrates.com said.

The WalletHub study uses a data set of 17 key metrics, including the results of WalletHub’s own literacy survey, which range from measuring high-school financial literacy to the share of adults in each state with a rainy-day fund.

To view the full report, visit: https://wallethub.com/edu/most-and-least-financially-literate-states/3337/