Californians’ smart money moves puts state at 11th best in the country

· The Fresno Bee

Americans are pinching their pennies as the cost of living continues to rise. 

A recent  study shows California residents are ahead of most when it comes to being smart in how they spend their money.

The study by the personal finance company ranked California 11th in the nation for best budgeters in the country.

But sticking to a budget is proving difficult. Around 83% of those polled said rising costs made it difficult to stay with a spending plan, according to a separate survey by the company.

The study sorted variables into three categories — spending and debt, credit, and savings — to determine which state’s residents were best able to stick to their budget.

The study looked at factors such as housing and non-housing expenses relative to average income, credit utilization and percentage of the population spending more than they make. To determine credit, analyst calculated average credit scores and the average amount of loans in a given state. And for savings, they looked at rainy day funds and the percentage of unbanked households. 

California racked up a high score for spending and debt, with most residents spending high on housing and utilities. However, the golden state ranked 25th for credit and 23rd for saving, an indication of loans and the ability to put a portion of their earnings into savings. 

Massachusetts ranked first for best budgeting in the country. Residents of the Bay State take on very little debt compared to their income; the average credit score is the equivalent of around 4% of the median income and 53% of Bay State residents report having an emergency fund. 

Washingtonians ranked second best, with the fourth-lowest rate of mortgage debt in the country and a low credit card debt ratio with 25% of residents spending more than they make. Hawaii ranked third, boasting the second-highest percentage of residents with emergency funds at 52%. 

Although California ranks among the top of the list overall, with residents able to spend on housing and utilities within their means, the state ranked lower for debt and savings. 

WalletHub pulled data from the U.S. Census Bureau, the Administrative Office of the U.S. Courts, the U.S. Bureau of Economics Analysis and other sources. 

Top 15 states whose residents budget best:

Massachusetts

  1. Massachusetts
  2. Washington
  3. Hawaii
  4. Vermont
  5. New Hampshire
  6. Wisconsin
  7. Minnesota
  8. Connecticut
  9. New York
  10. New Jersey
  11. California
  12. Virginia
  13. Pennsylvania
  14. North Dakota Rhode Island
  15. Rhode Island

Full information on the study is available on the WalletHub website.

This story was originally published September 1, 2026 at 6:30 AM with the headline "Californians’ smart money moves puts state at 11th best in the country."