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
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.
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.
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.
Finra Investor Education Foundation asked participants five basic financial literacy questions.
Utahns averaged 3.2 correct, compared to 3 nationally.
Take the quiz here.
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.