Tuesday, October 13, 2015

Smart Finances in the Garden State

Yesterday, we talked about what makes New Jersey one of the least tax-friendly states in the country, but we have some better news for you today. According to the personal finance web site GoBankingRates.com, New Jersey's residents are among the nation's best at managing their finances.

The study looked at each state's use of banking services, saving and investing behaviors, and financial education policies. It measured the portion of households with retirement savings accounts, reported investments in stocks, bonds, and mutual funds, the portion of households that reported having an emergency fund, and the rate of personal bankruptcies as well.

On those measures, the Garden State finished seventh, behind North Dakota, New Hampshire, Utah, Minnesota, Virginia, and South Dakota. At the very bottom of the list: Mississippi.

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