Texas: Worst Financial Stress in the USA. Where Does WA Rank?

If you know anyone who lives in the Lone Star State, check in on them. Texas is at the top of a list that none of the other 50 states wants. The financial website WalletHub examined all 50 states and found that Texas has “the highest percentage of people in financial distress.”

What is financial distress?

“Having a credit account that is in forbearance or has its payments deferred, meaning the account holder is temporarily allowed to not make payments due to financial difficulty.” -WalletHub

 

Dave Ramsey helped me get back on track.

Years ago, before moving back to Washington state, I found myself in the self-inflicted situation of credit card debt. 

I was getting by, paycheck to paycheck, unsure of how to escape the grip of several credit card balances. I took a “Dave Ramsey Financial Peace” course and followed a roadmap to paying off my debts, one card at a time. I even paid off my student loans.

The Realities of Debt in Texas

According to WalletHub's statistics, there is a significant issue in Texas. They currently have the highest percentage of people in financial distress, which is defined as “having a credit account that is in forbearance or has its payments deferred, meaning the account holder is temporarily allowed to not make payments due to financial difficulty.”

How do the Pacific Northwest states compare?

Texas is #1 on the list of states with bad credit stress. Florida, Louisiana, Nevada, and South Carolina round out the Top Five states with the highest financial stress.

Idaho ranks highest (or worst) among all four PNW states. (#23 out of 50)

Montana is the next state with high financial stress in this corner of America. (#29 of 50)

Washington is 3rd in the Pacific Northwest for stressed-out residents, ranking #36 out of the other 50 states.

Oregon has the most financial peace, ranking 47th out of 50 for economic pain. Only Alaska, Vermont, and Hawaii have residents with lower financial hardship.

Click and see where all 50 states fall in WalletHub's "Financial Stress rankings."

Source: WalletHub