Mississippi - 2016

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

Final Grade

F

57.09%

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Financial Knowledge

D

63.28%

Credit

F

55%

Savings and Spending

F

55%

Retirement Readiness and Other Investing

F

59.25%

Protect and Insure

F

55%

Financial Knowledge

D

63.28%

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Mean number of correct answers

D

63.35%

Offered financial education and participated

D

64.66%

Levels of High School Financial Education

C

75%

Credit

F

55%

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General Credit

F

55%

Housing Credit

C+

77.14%

Auto Credit

F

55%

Credit Card

F

59.44%

Student Loan

D

65.52%

Other Credit

F

55%

General Credit

F

55%

Download General Credit Chapter

Vantage Scores

F

55%

On Time Payers

F

55%

Prime Credit

F

55%

Inclusion in Credit Economy

D+

67.64%

Revolving Credit

F

55%

Utilization

F

55%

Bankruptcy

C

74.53%

Share Past Due

D+

67.74%

Debt Burden

C-

72.86%

Highest Tier Credit

F

55%

Housing Credit

C+

77.14%

Download Housing Credit Chapter

Loan to Value Ratios

C

75.68%

Equity Rich

F

55%

Homeownership Rates

B+

89.45%

Mortgage Delinquency Rates

C-

71.7%

Foreclosure Rates

A-

92.31%

Have a Mortgage

A-

91.96%

High Cost to Homeowners

C

73.33%

High Cost to Renters

C-

70.24%

Seriously Underwater Mortgages

A

96.09%

Mortgage balance as a proportion of household income

A-

91.09%

Auto Credit

F

55%

Download Auto Credit Chapter

Auto Loan as Portion of Household Income

F

57.07%

Auto Loan Delinquencies

F

56.89%

Percent of Auto Loans

C

73.7%

Impact of Auto Insurance Premiumes on Credit Scores

C-

72.34%

Credit Card

F

59.44%

Download Credit Card Chapter

Always Paid Credit Card Bills In Full

D

63.5%

Carried Balance on Credit Card with Interest Charged

D+

69.47%

Made only Minimum Monthly Payments on Credit Card

C

75.78%

Credit Card Delinquencies

F

55%

Average Credit Card Balance as a Percent of Median Household Income

F

57.99%

Student Loan

D

65.52%

Download Student Loan Chapter

Graduates with Student Debt

C+

79%

Average Debt Balance

C+

78.07%

Calculated monthly Payments Prior to Borrowing

B

84.43%

Never Made a Late Payment on your Student Loan

F

57.97%

Other Credit

F

55%

Download Other Credit Chapter

Unpaid Medical Bills

F

55%

Used Alternative Borrowing

F

55%

Took a Loan from a Retirement Account

D

63.4%

Delinquency of Unsecured Personal Loans

B+

87.83%

Balance of Unsecured Personal Loans as a Percent of Household Income

B-

82.54%

Savings and Spending

F

55%

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Spend less than Income

D

63.97%

Does not have an emergency fund

D-

62.78%

Unbanked

F

55%

Underbanked

F

55%

Saving for Children's College

F

57.55%

Overdraws checking account occasionally

F

55%

Could come up with $2,000 in an emergency

D-

60.84%

Has a household budget

D

66.32%

Has Taken a Hardship Withdrawal from Retirement Account

D

64.16%

Retirement Readiness and Other Investing

F

59.25%

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

Access to a Retirement Plan

C-

71.88%

Take Up Rate of Retirement Plans

B-

80.8%

Tried to Figure Out how much needed for retirement

D

66.12%

Amount of Income residents will be able to replace in retirement

B+

89.16%

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

D+

67%

Invests Outside of Retirement Accounts

F

56.27%

Protect and Insure

F

55%

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

Percent without Health Insurance

D+

68.1%

Average Face Amount of Life Insurance

D

64.84%

Uninsured Motorists

D-

61.14%