Where Do The Savviest Savers Live? Study Ranks The Top 10 US States Leading the Way

These are the top U.S. states with the savviest savers, according to data

Key Findings: 

• Study ranks US states by search habits related to saving money, revealing the states with the savviest savers

• Illinois ranks first in number of savers, followed by Georgia, New York, Wisconsin, and Arizona

• Experts say anyone can improve their saving habits, offering advice on how to make your money work smarter, not harder

Americans are becoming increasingly savvy when it comes to stretching their dollars, though some states are faring better than others as hotspots for money-saving behaviors. As living costs continue to climb across the country, more people are actively seeking ways to boost their savings and secure their financial future.

To find out exactly which states are home to the savviest savers, financial data experts at ConvertBankStatement analyzed Google search data across all 50 states. Their study reveals where America’s most savings-conscious residents live. By examining searches related to savings accounts and money-saving strategies, they uncovered some noteworthy variations in saving habits from state to state.

The findings paint an interesting picture of how different regions approach saving, with some unexpected states leading the pack in their pursuit of financial security.

Table: Top 10 States Ranked by Search Habits Related to Money-Saving

Insights into the Top 5 States

Illinois

Illinois leads the rankings with 880 monthly searches about savings from its 2.5 million residents – that’s about 35 searches per 100,000 people. This high interest in saving could be connected to the fact that Chicago is a major financial hub, combined with the contrast between urban and rural living costs across the state, motivating residents to seek smart money management strategies.

Georgia

Georgia’s population of 3.7 million generates 1,000 monthly savings-related searches (27 per 100,000 people). The state’s rapidly growing tech sector, particularly around Atlanta’s “Silicon Peach,” has created a younger, financially-conscious workforce dealing with rising urban costs while trying to maintain the state’s traditionally lower cost of living.

New York

New York sees 1,600 monthly searches from its 8.8 million residents (18 per 100,000). While this might seem surprisingly low for a financial capital, it could reflect a state of extremes – Wall Street professionals alongside one of the nation’s highest costs of living, driving residents to actively seek saving strategies.

Wisconsin

2 million residents make 320 monthly searches about savings (16 per 100,000). The state’s strong manufacturing heritage and relatively stable economy, combined with lower living costs than coastal regions, suggests residents are focused on long-term financial planning rather than immediate savings needs.

Arizona

Arizona rounds out the top 5 with 1,000 monthly searches from its 7.1 million population (14 per 100,000). The state’s growing popularity as a retirement destination, coupled with rapid population growth and rising housing costs, particularly in the Phoenix metro area, may be driving increased interest in saving strategies.

The Importance of Saving and Effective Strategies

Following the analysis of America’s savviest saving states, financial data experts at ConvertBankStatement have identified five key banking habits that can help boost your savings, regardless of where you live:

• Review Bank Statements Monthly: Spotting patterns in your spending is the first step to cutting unnecessary costs
• Automate Your Savings: What you don’t see, you won’t spend – set up automatic transfers on payday
• Track Account Fees: Many banks charge hidden fees that eat into your savings over time
• Hunt for Better Interest Rates: Online banks typically offer higher APY than traditional banks
• Use Multiple Savings Accounts: Separate accounts for different goals prevent you from raiding your emergency fund

A spokesperson for ConvertBankStatement commented:

“Our research shows that states with strong financial sectors and growing tech hubs are leading the way in savings habits, but anyone can adopt these winning strategies. The trick is to make your money work smarter, not harder. 

“Start by tracking your spending through regular bank statement reviews – you’d be surprised how many people don’t know where their money goes each month. Then look for better interest rates, especially at online banks, and set up automatic transfers on payday. 

“One money-saving method we’ve seen work well is using multiple savings accounts for different goals – it makes it harder to dip into your emergency fund for non-emergencies. The states with the savviest savers aren’t necessarily the wealthiest – they’ve just mastered these basic banking habits that anyone can follow.”

ENDS

Story Credit (https://www.convertbankstatement.io/).  

About ConvertBankStatement
ConvertBankStatement is an online platform that provides users with a simple and efficient solution for converting bank statements into various formats, such as PDF, Excel, and CSV. Catering to individuals and businesses, the service helps streamline financial data management, saving time and reducing manual data entry. With a user-friendly interface and secure processing, ConvertBankStatement ensures that sensitive financial information is handled safely while delivering quick and accurate results.

Methodology
The Monthly Average Search Data was taken from Google Keyword Planner. The population data was taken from the Google population index. We used keywords like “savings”, “saving account”, to find the monthly average searches from state to state. After collecting the data, we ranked them accordingly. 

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Author: David Keech

David Keech is a retired teacher and works as a sportswriter, sports official and as an educational consultant. He has reported on amateur sports since 2011, known as 'KeechDaVoice.' David can be reached at [email protected]