The 10 Poorest States in the U.S.

Page 1 of 11

Curious what the poorest states in the U.S. are? They say “the higher you climb the harder you fall.” While speaking about countries, we can relate this saying to the idea that the better the financial situation is in a country, the worse it gets after an economic recession. As an example we can look at the United States of America, which got hit pretty hard by the recent financial crisis. And even though the economy seems to be recovering, there is still a lot of ground left to cover.

Public Domain Image: Public Domain

America was always been considered a land of opportunity. People, especially from poorer countries, are thinking every day about leaving their homes in the pursuit of happiness in the U.S.. While America is still the country with the largest number of people who have over seven-digits sums in their accounts, in comparison with those who are struggling everyday to make ends meet, this number is extremely small.

A recent report by the Corporation for Enterprise Development (CFED) shows us that almost half of the American families (over 130 million people) don’t have enough finances saved to survive for three months in case of some income-related troubles (like unemployment). CFED attributes the term of “liquid asset poor” to this category of households. Among these people are included over 42 million of those whose income stays below the official poverty line, which is $23,050 for a family of four members. Another category of households, invoked by CFED in its “Assets & Opportunities Scorecard,” is “net worth asset poor,” which includes families whose high debt surpasses the value of their belongings (house, cars, savings).

The “Assets & Opportunities Scorecard” analyzes all 50 U.S. states and the District of Columbia and evaluates over 100 measures in order to provide an outlook on the financial security of people living in the U.S.

Aside from the aforementioned measures, the report indicates that Americans are not doing so well on many other benchmarks. While homeownership and ownership of small businesses is experiencing a downfall, the increasing volume of debt taken to support families’ budgets together with a high percentage of foreclosures  are ruling the day.

To sum up, America is not doing great, and if we take it state by state, we can see a more disastrous situation in some states than in the others. The low income and high amounts of debt, aside from making households incapable of purchasing some assets, affects other aspects of their lives like healthcare or education.

Let’s take a look at the 10 poorest states in the U.S. on the following pages, in a style similar to our list of the worst job markets in the world:

Page 1 of 11
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!