(WFRV) – Over the last few years, so many people have experienced financial hardships, leading many at some point to have to rely on the federal government for some sort of assistance. But how do Wisconsinites fare against other states when it relates to financial independence?
According to a study done by WalletHub, Wisconsin ranks #8 amongst the country’s most financially independent states.
Utah is ranked # 1 with a total score of 66.03, followed by Colorado, Massachusetts, Virginia, and Nebraska.
To determine the most self-sufficient states, WalletHub compared every state across 39 metrics, which measure how dependent Americans are on the government and other people for finances, their jobs, and personal vices.
Five key dimensions were used for the study; Financial, Government, Job-Market, International-Trade, and Vice Dependency.
Some of the metrics used within the 5 key dimensions were – Median Credit Score, Share of Adults Saving for Children’s College Education, Poverty Rate, Share of Household Receiving Public Assistance, Unemployment Rate, Share of Adult Binge Drinkers, and Homeownership Rate.
Here is how Wisconsin ranked in each category against all other states:
The full report as well as the full table ranking every state can be found here.