Unveiling The Latest Financial Distress Ranking: Where Does Wyoming Stand?

The economy has not been kind to most Americans, especially for the better part of the last four years, but there has been some good news, specifically for Wyomingites.

A new study conducted by personal finance website, WalletHub, listed the "States with the Most People in Financial Distress" and the Cowboy State was near the bottom of the list, which in this case, is exactly where we want to be.

According to the study, Wyoming was ranked 41st overall out of all fifty states, which makes us one of the least distressed states in the entire country.

That being said, we have fallen a bit down the list since last year. For 2023, we were the 46th overall.

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The WalletHub stated:

In order to shed light on the financial troubles experienced by people across the U.S., and to show where those difficulties are most pronounced, WalletHub compared the 50 states across nine key metrics. Our data set includes factors like the average credit score, the change in the number of bankruptcy filings between March 2023 and March 2024, and the share of people with accounts in distress.

Some of the key metrics were Wyoming scored fair to above average are as follows:

• Change in Bankruptcy Filings (March 2024 vs. March 2023) - 50th
• Debt Search Interest Index - 6th
• Loans Search Interest Index - 17th
• Credit Score Rank - 28th
• People with Accounts in Distress - 30th
• Average Number of Accounts in Distress - 40th

Individually, there's always things we can do better to improve our financial ratings, but it is nice to see that Wyoming is already doing better than the majority of the country.