Virginia - 2016

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

Final Grade

B-

82.04%

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Financial Knowledge

C+

79.47%

Credit

B-

82.35%

Savings and Spending

B+

88.07%

Retirement Readiness and Other Investing

C+

79.98%

Protect and Insure

C

74%

Financial Knowledge

C+

79.47%

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Mean number of correct answers

C-

70.31%

Offered financial education and participated

C

74.55%

Levels of High School Financial Education

A

95%

Credit

B-

82.35%

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General Credit

B+

87.26%

Housing Credit

C+

77.18%

Auto Credit

B-

81.73%

Credit Card

C

75%

Student Loan

C

76.28%

Other Credit

C

75.02%

General Credit

B+

87.26%

Download General Credit Chapter

Vantage Scores

C+

78.57%

On Time Payers

B-

81.78%

Prime Credit

B

84.76%

Inclusion in Credit Economy

C+

79.92%

Revolving Credit

A-

90.46%

Utilization

B-

81.65%

Bankruptcy

B-

81.32%

Share Past Due

A-

91.51%

Debt Burden

A-

90.71%

Highest Tier Credit

B

83.13%

Housing Credit

C+

77.18%

Download Housing Credit Chapter

Loan to Value Ratios

B-

80.54%

Equity Rich

D

66.35%

Homeownership Rates

B

83.83%

Mortgage Delinquency Rates

A-

90.31%

Foreclosure Rates

A+

98.19%

Have a Mortgage

D

64.8%

High Cost to Homeowners

C+

77.22%

High Cost to Renters

C

73.63%

Seriously Underwater Mortgages

A-

91.52%

Mortgage balance as a proportion of household income

B-

80.69%

Auto Credit

B-

81.73%

Download Auto Credit Chapter

Auto Loan as Portion of Household Income

A-

90.23%

Auto Loan Delinquencies

B+

89.49%

Percent of Auto Loans

C

76.72%

Impact of Auto Insurance Premiumes on Credit Scores

C-

72.34%

Credit Card

C

75%

Download Credit Card Chapter

Always Paid Credit Card Bills In Full

C

73.32%

Carried Balance on Credit Card with Interest Charged

C

73.67%

Made only Minimum Monthly Payments on Credit Card

C-

71.71%

Credit Card Delinquencies

B-

82.18%

Average Credit Card Balance as a Percent of Median Household Income

B-

82.42%

Student Loan

C

76.28%

Download Student Loan Chapter

Graduates with Student Debt

C+

79%

Average Debt Balance

C+

77.3%

Calculated monthly Payments Prior to Borrowing

B-

82.19%

Never Made a Late Payment on your Student Loan

B-

81.4%

Other Credit

C

75.02%

Download Other Credit Chapter

Unpaid Medical Bills

C-

71.97%

Used Alternative Borrowing

C

73.58%

Took a Loan from a Retirement Account

C

74.51%

Delinquency of Unsecured Personal Loans

A-

90.82%

Balance of Unsecured Personal Loans as a Percent of Household Income

B+

87.64%

Savings and Spending

B+

88.07%

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Spend less than Income

B+

87.87%

Does not have an emergency fund

C+

79.97%

Unbanked

B

83.57%

Underbanked

B-

81.72%

Saving for Children's College

A-

91.04%

Overdraws checking account occasionally

C+

79.28%

Could come up with $2,000 in an emergency

C+

79.75%

Has a household budget

C+

77.02%

Has Taken a Hardship Withdrawal from Retirement Account

C

74.17%

Retirement Readiness and Other Investing

C+

79.98%

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

Access to a Retirement Plan

B

86.88%

Take Up Rate of Retirement Plans

B

85.96%

Tried to Figure Out how much needed for retirement

B

84.31%

Amount of Income residents will be able to replace in retirement

C

73.32%

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

A-

90.25%

Invests Outside of Retirement Accounts

C+

79.94%

Protect and Insure

C

74%

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

Percent without Health Insurance

C+

78.35%

Average Face Amount of Life Insurance

D+

67.19%

Uninsured Motorists

B+

87.32%