Louisiana residents are not very good at managing money, according to a new report by the Washington, D.C.-based finance website WalletHub.
Data compiled by the website on shopping and saving habits across the country show that Louisiana ranks 48th in the country for overall financial literacy — among the bottom of the pack.
Louisiana tied with Georgia and New Mexico for having the 45th most unbanked households. WalletHub's analysis show that 11.5 percent of Louisiana's residents don't have a bank account.
WalletHub based its data upon a combination of indicators, including the high school dropout rate, percentage of people with a rainy-day fund, and percentage of people spending more than they make.