Last week, we looked at WalletHub.com’s ranking of the 10 smartest states for financial literacy. Now we look at the states with the lowest financial IQ, whose citizens are more likely to have credit card debt, less likely to have formulated a household budget and more prone to spending more than they earn.

WalletHub noted that overall, there is a huge financial literacy problem in the U.S. To determine financial literacy, WalletHub assessed states based on two categories: knowledge & education; and planning & daily habits.

To develop its U.S. rankings, the site looked at the high school dropout rate, results of a literacy survey by the Financial Industry Regulatory Authority and the percentage of adults with a bachelor’s degree among other things to rate the rate states in the first category. The second category included looking at the percentage of people who spend more than they earn, how many have a rainy-day fund and those paying the minimum amount due on credit cards.

Check out the 10 dumbest states for financial literacy in 2015:

texas

10. TEXAS

Overall Score: 42nd out of 51

Knowledge & Education: 32nd out of 51

Planning & Daily Habits: 40th out of 51

9. ALABAMA

Overall Score: 50

Knowledge & Education: 34

Planning & Daily Habits: 41

8. KANSAS

Overall Score: 44

Knowledge & Education: 9

Planning & Daily Habits: 48

7. OKLAHOMA

Overall Score: 45

Knowledge & Education: 35

Planning & Daily Habits: 46

6. KENTUCKY

Overall Score: 46

Knowledge & Education: 46

Planning & Daily Habits: 42

5. NEW MEXICO

Overall Score: 47

Knowledge & Education: 47

Planning & Daily Habits: 45

4. LOUSIANA

Overall Score: 48

Knowledge & Education: 43

Planning & Daily Habits: 49

3. ARKANSAS

Overall Score: 49

Knowledge & Education: 51

Planning & Daily Habits: 47

2. NEVADA

Overall Score: 50

Planning & Daily Habits: 41

Behavior: 50

1. MISSISSIPPI

Overall Score: 51

Knowledge & Education: 49

Planning & Daily Habits: 51 

See also:

Top 10 smartest states for financial literacy: 2015

10 of the hardest working cities in America 

12 key insights for financial advisors and clients