With the cost of living having increased significantly over the past few years, proper budgeting is more essential now than ever. In light of this, WalletHub today released its report on the States With the Best and Worst Budgeters in 2024, to show where Americans are being the most responsible with their finances and where they need to improve.
WalletHub compared the 50 states across 12 key metrics, ranging from the average credit score to debt-to-income ratios to foreclosure rates. The study also looked at factors such as bankruptcy rates, non-mortgage debt and the percentage of the population spending more money than they make in income.
South Dakota ranked 12th for spending vs debt ratios, 10th for best credit scores and 24th in savings.
| States With Best Budgeters | States With Worst Budgeters | |
| 1. Hawaii | 41. Nevada | |
| 2. Washington | 42. New Mexico | |
| 3. Massachusetts | 43. Tennessee | |
| 4. Rhode Island | 44. South Carolina | |
| 5. Wisconsin | 45. Arkansas | |
| 6. Minnesota | 46. Alabama | |
| 7. New Hampshire | 47. Oklahoma | |
| 8. California | 48. Georgia | |
| 9. Vermont | 49. Louisiana | |
| 10. Connecticut | 50. Mississippi | |
To view the full report and your state’s rank, please visit:
https://wallethub.com/edu/states-with-the-best-worst-budgeters/138069