The ranking looked at a person’s access to banking accounts, whether they had emergency savings, whether their debt payments were current, and what portion of consumers used alternative loans, such as payday loans. States were also judged for teaching children healthy financial habits in the school system.
South Dakota’s biggest strengths include solid saving and investing habits along with one of the lowest debt delinquency rates, and some of the lowest overspending rates in the nation. A very low bankruptcy rate also helped our ranking.
Those states relaxing in the top 10 with us include:
And those states not bragging include:
This ranking says a lot about the people of our state: we’re careful with our resources. In fact, this is an area that we emphasize in our 50-State Comparison under the “Quality Workforce” section. We look at bankruptcy, credit scores, volunteerism, and business efficiency as evidence that we have some of the most trustworthy, generous, and hard-working people in the nation.