Georgia Financial Literacy Statistics
The Georgia Financial Educators Council characterizes financial wellness among citizens of the Peach State by conducting research and gathering statewide data. On this website, those data are presented and updated on a regular schedule to provide policymakers, community groups, researchers, and the concerned public with current Georgia financial literacy statistics. The objective is to support advocacy that helps advance the financial wellness movement agenda.
Cost of Financial Illiteracy Survey
Georgians report that lack of financial knowledge carries a high cost, according to this 2021 survey. Participants across the state responded to the single question: “During the past year (2021), about how much money do you think you lost because you lacked knowledge about personal finances?” The results are shown below. Interestingly, almost 9% of survey respondents believed they had lost $10,000 or more in the past year due to financial illiteracy (percentages are rounded).
Cost of Financial Illiteracy
$0 – $499
$500 – $999
$1,000 – $2,499
$2,500 – $9,999
$10,000 +
According to the most recent reports from Feeding America, 13.1% of Peach State residents experience food insecurity – more than 1.4 million people from all age groups. The U.S. Department of Agriculture defines food insecurity as “lack of access, at times, to enough food to live an active, healthy life.” Food insecurity is associated with multiple adverse social and health outcomes and is increasingly considered a critical issue for public health.
Georgia residents also face a relatively high rate of housing insecurity. According to data from the Pew Research Center, as of 2024 between 30% and 39.9% of Georgians were experiencing housing hardship, defined as spending more than 30% of their income on housing costs.
Financial Situation Data
Debt Load Rates
Georgians had a total average of $57,570 in consumer debt in 2024, according to data collected by MoneyZine. That figure includes auto loan, credit card, mortgage, and student loan debts combined.
In terms of credit card debt alone, LendingTree reports that Georgia ranks 18th in the U.S. for its residents’ average credit card balance, which sits at $7,925 in 2025. In the 2024 MoneyZine research cited above, the average amount owed on an auto loan by Georgians was $6,360, while their average outstanding student loan balance was $7,690. And Experian reports that the average mortgage debt held in the Peach State was $217,383 in 2023.
Personal Credit Score
Credit scores have a powerful impact on people’s ability to qualify for loans and also determine the loan terms they receive. According to GoBankingRates, Georgians had an average credit score of 695 in 2024, 7 points below the national average of 702 reported in USA Today.
The median credit scores of three mid- to large-sized cities in Georgia according to WalletHub, and the average credit scores of two more, from Credit Card Local and WSAV are shown at right.
Georgia Financial Literacy Legislation & Educational Stats
The U.S. Department of Education, through the National Center for Education Statistics, gathers annual data on public education statistics by state. These data are summarized in the Common Core of Data (CCD) tables annually. For the 2023-2024 school year, the CCD indicated that Georgia had 2,237 operating schools in 253 districts, a little more than 2.3% of the national average (99,297). The Peach State had 123,640 teachers serving 1.75 million students that year, an excellent teacher-to-pupil ratio of 14.2.
In April 2022, Georgia’s governor signed Senate Bill 220 – titled “Georgia Civics Renewal Act” – into law. This legislation amended the state education code to mandate a one-half-credit course in financial literacy for students in grades 11 or 12; require the state Board of Education to establish content standards for the course; and require the Professional Standards Commission to determine the appropriate qualifications for teachers of the course. The bill also called for creation of the Georgia Commission on Civics Education.