It’s Financial Literacy Month, so we are looking to see where New Yorkers stack up when it comes to money.

News 12's Kristie Reeter has The Real Deal on the numbers and gets a big lesson on finances.

Caleb Silver, from Investopedia, says credit card balances have been rising over the past year.

“Credit card APRs have also been rising as the federal reserve has raised interest rates, which is driving up the average balances across the tri-state area. In the United States that average balance is just under $3,500, but in New Jersey it is over $4,030 and in New York over $4,000 as well,” says Silver.

What is the best way to pay credit cards down?

Founder and executive director of Brooklyn Bank, Jude Bernard, says when it comes to debt, pay the highest interest debt first.

"Typically what people like to do is, they like to pay one off all the way, whether it’s the highest one, because it feels good because they see it coming down, but that is not the best strategy."

Next is retirement savings.

"For IRA the average balance is around $104,000 down about 20+% from last year, for 401(k)’s $103,900, again down a little bit more than 20% from last year and for all you teachers out there with 403Bs that average balance is a little over $92,680, again taking a hit last year, but just know where you stand compared to the other figures," says Silver.

Bernard says your savings should always go first.

"It is very important that you are consciously saving and not just saving, but investing you know, putting money into a bank account is good but it is not as good as putting it into the market via a tool,” says Bernard.