More And More Texans Are Dealing with Financial Stress

We all know that people in Texas work long hours and aren’t afraid to put in some hard work. But we do want to be rewarded for our work and just be able to provide for our families. But more and more families are struggling to make it right now for a variety of reasons. But one thing is sure when you’re looking at data it’s clear that Texas is one of the states that has most people in financial distress. 

Recently the people at Wallethub was working on a list of ranking all U.S. States in order of the how many of them are dealing with financial distress. It’s sad to see not only Texas near the top of this list but also so many states near us that are also struggling. Unfortunately, inflation is hitting all of us, everything is costing more, and wage increases are not correlating with the increase in expenses.  

What Factors Decided Which States Have the Most Financial Distress? 

The team looked at things like credit score, number of people with accounts in distress, the average number of accounts in distress, and which states are seeing an increase in bankruptcy filings.  

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Which States Have the Most People in Financial Distress? 

Lots of people in states across the country are struggling to pay all their bills and keep food in the refrigerator and pantry. Let’s look at the states that seem to be hit the hardest right now with citizens struggling with financial distress.