ARIZONA NEWS

WalletHub: Arizona not a top state for financial independence

Jul 8, 2019, 4:04 AM

(Pexels)...

(Pexels)

(Pexels)

PHOENIX — If you’re looking for some financial independence, the Grand Canyon State may not be the ideal landing spot.

WalletHub ranked Arizona as the nation’s 33rd-most financially independent state in a recent study.

The personal finance website measured the 50 states based on five major sources of dependency: consumer finances, the government, the job market, international trade and personal vices.

Arizona performed well in two metrics — No. 10 in ‘vice dependency’ and No. 17 in ‘international trade dependency’ — but fell short in other important areas.

The state ranked No. 43 in ‘government dependency,’ which took into account factors like the share of subsidized housing units and households receiving public assistance.

Arizona also fared poorly in ‘financial dependency,’ finishing No. 41. In that category, a state’s share of adults saving for children’s college education, median debt per income and share of underwater mortgages were weighed the most heavily.

Arizona also ranked No. 22 in the fifth and final category, ‘job market dependency.’

A pair of bordering states fared much better than Arizona.

Utah topped the ranking of WalletHub’s most independent state, while Colorado was No. 5.

Kentucky was the least independent state.

Array

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Phoenix Children's...

Angela Gonzales/Phoenix Business Journal

Phoenix Children’s walks away from giant health insurance contract

Phoenix Children's, one of the nation's largest pediatric health systems, turned down an $80 million offer from one of Arizona's largest health insurers in a heated contract dispute.

31 minutes ago

Judge gavel and baby crib...

Payne Moses

Suspect arrested 38 years after sexual assault, kidnapping case opened in Phoenix

After 38 years, a suspect accused of kidnapping and sexually assaulting a Phoenix toddler was identified and arrested.

1 hour ago

Donald Trump Liz Cheney...

KTAR.com

Arizona AG’s office investigating whether Trump’s Liz Cheney comments broke the law

The Arizona Attorney General's Office is investigating whether comments Donald Trump made against Liz Cheney at an event in Glendale on Thursday night broke the law.

2 hours ago

A Phoenix man purchased guns from a Tempe firearms dealer that were used in a California hate crime...

Kevin Stone

Phoenix man sentenced for lying while buying guns used later in California hate crime

A Phoenix man was sentenced to prison this week for lying while buying guns that were later used in a hate crime in California.

2 hours ago

Mama bear...

Danny Shapiro

Wildlife officials relocate mama bear, cubs from Arizona town

A mama bear and her cubs were getting too comfortable with human areas in an Arizona town and were moved to another location, authorities said Friday.

3 hours ago

Follow @KTAR923...

Sponsored Content by Day & Night Air Conditioning, Heating and Plumbing

Why a Heating Tune-Up is Essential Before Winter

PHOENIX, AZ — With cooler weather on the horizon, making sure your heating system is prepped and ready can make all the difference in staying comfortable this winter.

Sponsored Articles

...

Collins Comfort Masters

Act Now: Secure Your HVAC Equipment Before Prices Rise in 2025!

Phoenix, AZ – As the year draws to a close, Collins Comfort Masters is urging homeowners and businesses to take advantage of current pricing on HVAC equipment.

...

Morris Hall

West Hunsaker, through Morris Hall, supports Make-A-Wish Foundation in Arizona

KTAR’s Community Spotlight this month focuses on Morris Hall and its commitment to supporting the Make-A-Wish Foundation in Arizona.

...

DISC Desert Institute for Spine Care

The best methods to make your back pain disappear for good

Are you struggling with back pain that will not go away?

WalletHub: Arizona not a top state for financial independence