DENVER – Coloradans are among the best in the U.S. when it comes to paying their monthly mortgage, according to a new report released by WalletHub this week.
The personal-finance website conducted an in-depth analysis of 2017’s Most and Least Financially Savvy States, and found Colorado has the lowest foreclosure rate at just 0.2 percent.
That’s 14 times lower than in New Jersey, the state with the highest foreclosure rate at 2.8 percent.
Colorado also ranks among the top five when it comes to savings -- whether that be adults with rainy-day funds, adults with college savings for their children, adults who budget or share of unbanked households.
But it’s not all good news. Colorado did not crack the top ten for the most financially savviest states, coming in at the 23rd post on the list.
The study found Massachusetts has the lowest share of adults spending more than they earn. New York has the lowest median debt per person, Hawaii has the lowest annual housing and utilities expenditures per capita and North Dakota has the highest share of adults with rainy-day funds.
To view the full report, click here.