California - 2016

Year:
2016
Report Card Type:
Adult
Related Report Card:
2016 National Report Card on Adult Financial Literacy

Final Grade

C+

78.35%

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Financial Knowledge

F

55%

Credit

B+

87.11%

Savings and Spending

B

86.01%

Retirement Readiness and Other Investing

C-

71.58%

Protect and Insure

B-

81.45%

Financial Knowledge

F

55%

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Mean number of correct answers

D-

62.42%

Offered financial education and participated

D

64.13%

Levels of High School Financial Education

F

55%

Credit

B+

87.11%

Download State Fact Sheet Download Credit Chapter Download Full Report

General Credit

B

84.41%

Housing Credit

D+

68.32%

Auto Credit

A

94.98%

Credit Card

B+

87.56%

Student Loan

B

86.59%

Other Credit

C+

77.51%

General Credit

B

84.41%

Download General Credit Chapter

Vantage Scores

C

76.43%

On Time Payers

B

83.71%

Prime Credit

B-

82.4%

Inclusion in Credit Economy

D+

69.5%

Revolving Credit

B+

89.98%

Utilization

B

83.97%

Bankruptcy

B

83.02%

Share Past Due

B

85.57%

Debt Burden

B

85.71%

Highest Tier Credit

B

83.13%

Housing Credit

D+

68.32%

Download Housing Credit Chapter

Loan to Value Ratios

A

95.14%

Equity Rich

A

95.34%

Homeownership Rates

F

56.64%

Mortgage Delinquency Rates

A

94.14%

Foreclosure Rates

A+

97.79%

Have a Mortgage

D-

62.58%

High Cost to Homeowners

F

55%

High Cost to Renters

F

57.66%

Seriously Underwater Mortgages

A-

90%

Mortgage balance as a proportion of household income

F

55%

Auto Credit

A

94.98%

Download Auto Credit Chapter

Auto Loan as Portion of Household Income

B+

87.86%

Auto Loan Delinquencies

A-

92.99%

Percent of Auto Loans

B+

89.68%

Impact of Auto Insurance Premiumes on Credit Scores

A+

100%

Credit Card

B+

87.56%

Download Credit Card Chapter

Always Paid Credit Card Bills In Full

A

94.6%

Carried Balance on Credit Card with Interest Charged

A-

92.68%

Made only Minimum Monthly Payments on Credit Card

C-

72.86%

Credit Card Delinquencies

B

83.05%

Average Credit Card Balance as a Percent of Median Household Income

B+

89.83%

Student Loan

B

86.59%

Download Student Loan Chapter

Graduates with Student Debt

B

86.5%

Average Debt Balance

A-

92.56%

Calculated monthly Payments Prior to Borrowing

A-

92.94%

Never Made a Late Payment on your Student Loan

D+

67.42%

Other Credit

C+

77.51%

Download Other Credit Chapter

Unpaid Medical Bills

B

86.22%

Used Alternative Borrowing

C+

77.2%

Took a Loan from a Retirement Account

F

59.55%

Delinquency of Unsecured Personal Loans

B+

88.11%

Balance of Unsecured Personal Loans as a Percent of Household Income

A

94.22%

Savings and Spending

B

86.01%

Download State Fact Sheet Download Savings and Spending Chapter Download Full Report

Spend less than Income

C

74.47%

Does not have an emergency fund

A-

92.05%

Unbanked

C+

78.21%

Underbanked

B

86.74%

Saving for Children's College

A

93.96%

Overdraws checking account occasionally

C

75.06%

Could come up with $2,000 in an emergency

C

74.38%

Has a household budget

B+

88.48%

Has Taken a Hardship Withdrawal from Retirement Account

F

58.95%

Retirement Readiness and Other Investing

C-

71.58%

Download State Fact Sheet Download Retirement Readiness and Other Investing Chapter Download Full Report

Access to a Retirement Plan

D

64.38%

Take Up Rate of Retirement Plans

B

83.09%

Tried to Figure Out how much needed for retirement

C

76%

Amount of Income residents will be able to replace in retirement

C+

79.97%

Percent of residents who count on social security for 90+ of their retirement income

A-

92.5%

Invests Outside of Retirement Accounts

C

76.53%

Protect and Insure

B-

81.45%

Download State Fact Sheet Download Protect and Insure Chapter Download Full Report

Percent without Health Insurance

C

74.08%

Average Face Amount of Life Insurance

A

96.09%

Uninsured Motorists

C+

77.91%