South Dakota Is One of the Most Financially Stable States in U.S.
Financial stability is an admirable, although somewhat elusive goal for most of us.
But in South Dakota, we're among the best in America at achieving it.
To determine which states have the most financial stability, Uplift Legal Funding looked at six factors relating to the personal finances of residents in each state:
- Consumption of annual income as a percentage
- Percentage of income saved
- Household debt-to-income ratios
- Annual personal bankruptcy rates
- Saving and debt-related Google searches
When you factor in all of those variables, South Dakota sits at number-five overall.
The Mount Rushmore State has the fifth lowest annual average consumption of income (80.3%), and the fifth highest amount of disposable income to save (19.7%).
The state also has the third-lowest household debt-to-income ratio (1.24).
Top-ranked New York was the only state where residents’ debt was significantly lower than their annual earnings.
- New York
- South Dakota
- Rhode Island
- New Jersey