Recent Study Gives Texans A Failing Grade On Money Matters.
Texans scored a C, D or F on 49 of the 71 factors that went in to assigning the grade for the state’s financial literacy.
The average Vantage Credit Score in Texas is only 655, compared to a national average of 666.
Only 73 percent of Texans pay their bills on time, and only 40 percent have prime credit. In both cases, Texans scored well behind national averages.
When it comes to credit cards, only half pay their bill in full, about 35 percent make only minimum payments and the average credit card balance is more than 10 percent of annual household income.
In category after category, Texans scored below national averages.
But the real problem is in retirement investing, where we scored an F.
Do you have questions about credit? Call Us – We Can Help!
Bill Spragg at 281 804 3333 or BSpragg@LcaNow.com
Harry Bradley 713 419 7151 or HBradley@LcaNow.com