Minnesota, Wisconsin Both Make Top 5 For Financial Responsibility

Money is a hot topic these days. Things are very expensive, from groceries to gas. Everyone is feeling it these days. Even a pack of gum seems astronomical!

The good news is that it seems we might be faring better than most, at least in Minnesota and Wisconsin. A new study says as much, and was just released by BrokerChooser, a site made up of online broker experts.

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Why did they put this list together? Many are having 'finance-xiety' because of the high cost of everything. It's not uncommon for people to feel uneasy about their financial situation and feeling like they can never get ahead.

If you're reading this from our neck of the woods, you can feel a little bit better because we are some of the most financially responsible states out there.

Credit cards and American money — Comstock

Wisconsin & Minnesota Make The Top 5 For Most Financially Responsible States

Wisconsin came in at number three with Minnesota right behind at number four! Both states ranking so high is super impressive. Wisconsin shines here because the average amount of credit card debt per resident is low compared to the average.

Wisconsinites also boast a high credit score and a healthy retirement savings account. That's pretty impressive!

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As for Minnesota, it is our credit score that helped us notch a top spot, with the highest credit score on average out of the entire country. What is it? 742! That really is incredibly impressive.

How Did This List Come Together?

BrokerChooser analysts looked at several relevant factors here, including the average credit score per state, the average amount of credit card debt per state, the average amount of retirement savings, and more.

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They also looked at the average search volume for 'buy now, pay later' terms, along with how many people searched for things like loans. As for the top and most financially responsible state, that would be Vermont, followed by Iowa.

I don't know about you but this definitely makes me want to become as financially savvy as possible, especially in times like this. I love a good challenge. What do you think?