11 States Where People Have the Most Money Saved

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It’s always a good idea to have money set aside for your future and for emergencies. Financial experts say that you should have enough to cover at least three to six months of expenses. Many Americans have trouble putting this put much away, though. In 2017, GOBankingRates surveyed over 8,000 Americans and asked if they had more than $1,000 in their savings. Fifty-seven percent of people surveyed had less than $1,000 saved. This was an improvement on 2016 when 69 percent said they had less than $1,000 saved. This percentage varied wildly from state-to-state. In some states, most people had more than $1,000 saved. In other states, far less than half did. Here are the eleven states where the most people had over $1,000 saved.

1) Kansas

The Sunflower State came out on top in GOBankingRates’ survey. Sixty percent of respondents said they had at least $1,000 in their savings, and 38 percent said they had $10,000 or more. Plus, only 27 percent of Kansas residents said they had zero dollars saved. This was the lowest percentage of all the states surveyed. One of the reasons why Kansans are able to so much money is because their state has one of the lowest costs of living in the country. According to the U.S. Bureau of Economic Analysis, Kansas has a ‘regional price parity’ of 90.4 out of 100. This means that goods and services cost about 10 percent less than the national average. Overall, Kansas has the eighth lowest cost of living in the country. This helps residents save more money for their future.

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