By Amanda Weiss
Saving money is something that is important for everyone. Especially in a capitalist society, having enough money to do what you want can greatly affect your lifestyle. In order to have enough money, you’ve got to be able to save up over time. It may surprise you to hear that different areas in the country have highly various percentages of people able to save money. However, this information can help you make decisions about where to spend time and settle. That way, you can increase your chances of having enough cash for a rainy day. So that you can keep track of these trends, here are the 11 worst states for residents not saving money.
1) Washington, D.C.
Even though it isn’t technically an independent state, as a distinct and highly populated city, D.C. makes the list. Washington, D.C. is the capital of our nation. As such, it is a busy place, full of important events and attractions. However, it is not a cheap place to live. According to Sperling, the cost of living index is 158.50 relative to the U.S. average of 100. Since it is so pricey, saving up money can be quite difficult. So, perhaps it’s no surprise that there are a lot of people here who are unable to do so. According to GoBankingRates.com, 48% of resident don’t have any money in savings. Furthermore, 64% of residents have under $1,000 saved up. That means that a lot of residents may not even have enough to cover next month’s rent.
Click below to share this article.