South Dakota Ranks Second in Saving Money
Saving money means different things to people. Saving money on buying something sounds great. "I saved twenty bucks on these jeans" seems like it is great but, unless you got the jeans for free, you didn't save money. You still spent whatever you spent on the jeans.
Those little bits of savings add up a lot over time. I myself have done a better job saving money, primarily for retirement, as I have gotten older. It is a trait I share with lots of other 605 folks.
South Dakota ranks second in the nation at saving money, behind North Dakota. That is based on a study of the Federal Reserve Board’s Survey of Household Economics and Decision making by Self.inc. Both states share the same characteristics that help it thrive for savings, low unemployment, low cost of living, and income.
Sioux Falls also figured in well into the study. Out of all of the small metro areas, the state's largest city ranked tenth, just behind the Fargo at ninth. Midland, Texas was first, followed by Wausau and Sheboygan, Wisconsin, Bismarck, and then Appleton and Green Bay, Wisconsin. Apparently living in Wisconsin saves you money?