Photo Credit: Evan-Amos via wikimedia commons

See how Utah stacks up against the nation when it comes to financial preparedness and knowledge. Surprisingly, Utah is worse than average. Source: Finra Investor Education Foundation

Spending more than income
Photo Credit: Evan-Amos via wikimedia commons

24 % of Utahns reported that their household spent more than what came in as income.

This did not include large purchases like houses and cars.

Nationally: 20% spend more than they make.

Financial foresight
Piggy bank vault Photo credit: wikimedia commons

63% of Utahns lack emergency funds that would last for at least three months, in case of sickness or job loss.

60% nationally lack those funds.

Non-bank loans
A Wisconsin loan center Photo credit: The Deseret News

This includes loans like auto title or payday loans, and rent-to-own programs.

26% of Utahns have used one or more non-bank borrowing method in the last five years.

24% nationally have done so.

Financial literacy
Photo credit: Pen Waggener via wikimedia commons

Finra Investor Education Foundation asked participants five basic financial literacy questions.

Utahns averaged 3.2 correct, compared to 3 nationally.

Take the quiz here.

Comparison shopping for credit cards
Photo credit: Associated Press

60% of Utahns said they did not collect and compare information about cards from more than one company, when obtaining their most recent card.

62% of Americans do not comparison shop for credit cards.