East Hawaii News

Hawai’i Ranks 14th in Financially Savvy States

April 15, 2016, 4:52 PM HST
* Updated April 17, 11:29 PM
Listen to this Article
1 minute
Loading Audio...
A
A
A

financial planning pixabayPersonal finance website WalletHub recently conducted an in-depth analysis on 2016’s Most & Least Financially Savvy States, ranking Hawai’i in the top half with a ranking of 14th.

Wallethub compared all 50 states and the District of Columbia across 20 key metrics that speak to financial savvy, or lack of. These metrics included annual savings account averages to personal bankruptcy rates and credit card debt as a percentage of income.

Hawai’i was ranked among the states with the highest credit score at number four, after Minnesota, North Dakota, and South Dakota.

The aloha state received poor statistics in multiple categories, including a dead last ranking for the state with the highest total debt percentage of income and tying for last with Nevada for highest percentage of population spending more than they’re earning.

High foreclosure rates, tied with Florida for the 48th spot, also helped to sum up the analysis of Hawai’i.

ARTICLE CONTINUES BELOW AD

Several categories had Hawai’i placed in the middle, shying away from the top or bottom five spots, ultimately leading to the overall 14th rank.

ARTICLE CONTINUES BELOW AD

Minnesota, New Hampshire, and North Dakota were the top three most “financially savvy states;” while New Mexico, Arkansas, and Missouri were ranked as the least “financially savvy states.”

Comments

This comments section is a public community forum for the purpose of free expression. Although Big Island Now encourages respectful communication only, some content may be considered offensive. Please view at your own discretion. View Comments

Newsletters

Get a quick summary of what’s happening on the Big Island with our daily & weekly email of news highlights.