Sources

2021 National Financial Capability Study State-by-State Survey

I obtained the data from the 2021 state-level findings. I manipulated the dataset to drop rows (individuals) with missing values in relevant columns, dropping rows with values of 98 or 99 in relevant columsn (which indicate an answer of “don’t know”), and changing binary columns of 1 and 2 to 0 and 1. Furhermore, for the financial knowledge questions with answer choices of 1, 2, 3, 98, or 99, I changed the outcomes to be just 0 and 1. 1 stands for the correct answer, and 0 stands for every other answer.