Steve Lear

One of our key initiatives at SteveLear.org is advancing personal financial literacy in Minnesota. In the past, I have done this through the Minnesota Council on Economic Education (MCEE), where I served as a Board member and helped pass legislation in 2023 requiring high school students to take a personal finance class before graduating.  

My latest pivot in this area is reestablishing Jump$tart Minnesota, an independent state affiliate of the national Jump$tart Coalition for Personal Financial Literacy.  (Yes, in my typical shy fashion, I asked the group if I could be the President.) 

Through Jump$tart Minnesota, we will convene all the state organizations working to advance personal financial literacy and serve as their strategic planning partner.  We are still in the process of defining this organization and will keep you updated on our progress. 

I feel very inspired to be involved in this work after reading the results of a recent poll. 

Every year, WalletHub conducts a financial literacy survey that compares how each state performs across three categories: 

• Scores on the “WalletLiteracy Test” (developed by WalletHub) 

• Financial Planning and Habits 

• Financial Knowledge and Education 

Each category is evaluated on 17 key metrics, ranging from “high-school financial literacy grades to the share of adults with rainy-day funds.”  The next step is grading every metric on a 100-point scale.  

A weighted average of all metrics is calculated for each state to determine its overall score. These results are then combined with literacy test scores to produce a state ranking.  

In 2026, Minnesota took the top spot as the nation’s most financially literate state.  

We ranked first in the Financial Knowledge and Education category. Financial education is embedded into our state’s K-12 curriculum, with high school students required to take at least one personal finance-related course to graduate.  

Other survey highlights include a state median credit score of 750, the highest in the country, and the third-lowest percentage of adults who spend more than they earn. Additionally, more than half of Minnesotans have rainy-day funds that can cover at least three months of expenses.

A detailed look at the full report is available at the following link: 

 Most and Least Financially Literate States 2026 

It’s very impressive that we were ranked as the most financially literate state in the country! While it’s a little bit hard to believe, I’m going to take WalletHub’s analysis as true and continue to work at a higher level to maintain at least a top-five ranking in the years to come. 

I invite you to join us in that effort. Thank you for making personal financial literacy a priority! Now let’s work together to maintain our state’s strong national ranking. We’ll share more ideas about how you can help us achieve that goal in the coming months.