Study ranks Nebraska No. 1 in financial literacy • Nebraska

LINCOLN — A new study from Credit Secrets ranks Nebraska as the most financially literate state in the United States.

#1 position analyze Depend on online website Richard Baier, president and CEO of the Nebraska Bankers Association, thinks it’s nice to have resources available to improve your credit score, but not necessarily shocking.

“This reflects the great work we’ve done in the state of Nebraska over the past four or five years,” Beyer said.

The website said its analysis used data from agencies including the U.S. Bureau of Economic Analysis and the Federal Deposit Insurance Corporation, using nine indicators in two areas: education and economic habits. The study also weighed financial stability and challenges.

Bayer said the analysis introduced information he doesn’t see often in other comparative studies, such as high school diploma rates.

Beyer said Husker State’s efforts to earn an “A” grade in the study could include a 2021 state law aimed at improving students’ personal finance skills, including budgeting, taxes, debt, risk management, investment strategies and credit building.

The legislation adds a half-credit high school personal financial literacy course as a graduation requirement in Nebraska and requires financial literacy to be included in every public school district’s K-8 curriculum.

Beyer recalled how the bill was pushed by a coalition of lawmakers with different philosophical views, including Sen. Terrell McKinney, R-North Omaha, and Julie Slama, R-Dunbar.

He highlighted other fun learning activities for young people, including a school savings program supported by the Nebraska Council on Economic Education. About 60 schools in Nebraska participate in the program, which allows banks to build real-life experiences with banks in schools, and 10 more schools are set to open this fall, Beyer said.

Other activities for students include stock market game challenges and “train the trainer” workshops. Beyer said rock bands with financial literacy messages also held school concerts.

The Credit Confidential study also considered metrics such as average credit scores, unbanked households, and ratios of financial institutions and predatory lenders.

Credit Secrets said its report aims to spark a discussion about the need for greater financial education nationwide.