Houston Matters

Why Are So Texans So Bad with Money?

Texans aren’t that good at managing their money. That’s according to a recent study that gave the Lone Star State a D+ for its residents’ overall financial literacy. According to the National Report Card on Adult Financial Literacy from the Center for Financial Literacy at Champlain College, Texans got an F when it came to […]

Financial Literacy Quote MemeTexans aren’t that good at managing their money. That’s according to a recent study that gave the Lone Star State a D+ for its residents’ overall financial literacy.

According to the National Report Card on Adult Financial Literacy from the Center for Financial Literacy at Champlain College, Texans got an F when it came to overall financial knowledge, a C+ for saving and spending habits, and a C- for their credit scores and understanding of how credit works. Only five other states got lower grades than Texas.

Why are Texans worse with their money than much of the rest of the country? And what do residents of Greater Houston often struggle to understand about managing their finances?

We dig deeper into how and why Texas got such a low grade with John Pelletier, director of the Center for Financial Literacy. Then, we get some advice on the basics of financial literacy from Rebecca Loftis with The Women’s Resource of Greater Houston, which provides basic financial education at no cost to people who have little to no financial literacy.

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