(WFRV) – A new WalletHub study ranked the nation’s 50 states from the most to least people in financial distress, and Wisconsinites will likely be pleased to find out where their state ranks.
According to the study, Wisconsin ranked No. 41 in terms of financially distressed individuals; in other words, the Badger State ranks No. 10 in terms of least financial distress among its residents.
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WalletHub’s study gave Wisconsin a score of 36.34, better than Michigan’s 36.53 and slightly higher than Maryland’s 36.17. WalletHub’s study indicated that a higher score means more people are in financial distress.
The rankings were based on six categories and scored in the following ways:
- Credit score – 16.66 total points
- Average March credit score – roughly 11.11 points
- Change in Credit Score from March 2024 to March 2025 – about 5.55 points
- People who have accounts in distress – 16.66 total points
- Share of people with accounts in distress in Q1 2025: – about 8.33 points
- Change in share of people with accounts in distress from Q1 2024 to Q1 2025 – about 8.33 points
- Average number of accounts in distress – 16.66 total points
- Average number of accounts in distress in Q1 2025 – about 8.33 points
- Change in average number of accounts in distress from Q1 2024 to Q1 2025 – about 8.33 points
- Change in bankruptcy filings from March 2024 to March 2025 – 16.66 total points
- “Debt” search interest index – 16.66 total points
- “Loans” search interest index – 16.66 total points
All of the data from the WalletHub study was compiled from their database, Google Trends, TransUnion and the Administrative Office of the United States Courts.
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Among the Midwest, Wisconsin had the fewest people in distress, according to the study, ahead of Michigan and Illinois, which ranked at No. 40 and No. 37, respectively.
The full study can be seen on WalletHub’s website.
