Nevada ranked in Top 10 most financially-disciplined states in US
LAS VEGAS, Nev. (FOX5) - Forbes recently analyzed states to determine where Americans are the most financially disciplined, and Nevada ranked in the top 10.
According to Forbes, it surveyed 5,001 Americans to measure “the extent of their financial discipline.” Survey results included all 50 states.
Forbes asked eight questions designed to cover the most essential characteristics of healthy, disciplined personal finance. It paired the survey results with recently published data from the Federal Reserve to create a “financial discipline score” for each state.
Alabama checked in at number one, with Arkansas and New Jersey rounding out the top three. Illinois, Nevada and Georgia filled in spots 8-10 with identical scores of 78. Forbes said that residents of Idaho, Hawaii and West Virginia “have the most room for improvement.”
The survey revealed the following findings:
- Six in 10 Americans (60%) say they have a budget that directs all of their spending
- Just four in 10 Americans (41%) say they regularly contribute money to a retirement account
- Men (47%) are more likely than women (37%) to have at least three to six months of expenses set aside in an emergency fund
- Millennials (66%) are most likely to pay off their credit card balance in full each month; Gen Zers (11%) are most likely to make minimum payments or no payments at all
- Point tallies were adjusted to a 100-point scale, with higher scores representing more financial discipline and lower scores representing less financial discipline. More information and results from the survey are available here.
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