Most Dangerous States in America for Financial Safety 2024

Financial security is a major factor in determining the overall safety of a state. While physical danger is often more visible, financial threats—such as fraud, identity theft, and economic instability—can be just as damaging. Some states see higher rates of financial crime, job insecurity, and low consumer protections, making residents more vulnerable to financial hardship.

In this installment of our “Most Dangerous States in America” series, we’re ranking states based on financial safety—examining where residents face the biggest economic risks.

How Financial Safety Was Measured

To determine which states are the most financially dangerous, the following was analyzed:

• Share of Uninsured Population
• Unemployment Rate
• Underemployment Rate
• Foreclosure Rate
• Median Credit Score
• Debt per Income
• Poverty Rate
• Share of Adults with Rainy-Day Funds
• Fraud & Other Complaints per Capita
• Identity-Theft Complaints per Capita
• Share of Unbanked Households
• Job Security
• New Unemployment Claims per Total Civilian Labor Force
• Employment Growth (2024 vs. 2023)
• Share of Households with Emergency Fund
• Share of People Not Saving Money for Children’s College
• Share of Households Unable to Pay Energy Bill in Past 12 Months
• Personal Bankruptcy Filings per Capita
• Share of Homes Seriously Underwater (with negative equity)

The Most Dangerous States for Financial Safety

5. Mississippi

Mississippi has one of the highest poverty rates in the U.S., and many residents struggle with low wages and job instability. The state also has a high reliance on payday loans, leaving individuals vulnerable to high-interest debt cycles. Additionally, Mississippi has weak consumer protection laws, allowing predatory lenders to thrive.

4. Ohio

Ohio has seen a rise in financial fraud and identity theft, particularly in larger cities like Cleveland and Columbus. Additionally, bankruptcy rates in the state remain high, as many residents struggle with medical debt, credit card delinquencies, and job insecurity. The state’s economic recovery has been slower compared to national trends, leaving many financially vulnerable.

3. Louisiana

Louisiana ranks among the worst states for economic stability, with one of the highest bankruptcy rates per capita. The state also has low median wages compared to the cost of living, making financial hardship a common issue. Additionally, fraud and scam rates remain high, particularly targeting elderly residents and those in lower-income communities.

2. Illinois

Illinois has one of the highest rates of identity theft and financial fraud in the country. Additionally, statewide debt and budget issues have led to increased tax burdens on residents, making financial stability harder to achieve. The state also has a rising bankruptcy rate, and many homeowners struggle with foreclosures and housing affordability.

And the most dangerous state for financial safety is…

1. Nevada

Nevada is the most financially dangerous state due to extremely high rates of fraud, scams, and identity theft—particularly in tourist-heavy cities like Las Vegas and Reno. The state also has one of the highest bankruptcy rates in the U.S., with many residents struggling with unstable income, high debt, and financial scams.

How to Protect Yourself from Financial Threats

No matter where you live, there are steps you can take to protect yourself from financial fraud and instability:

• Monitor your credit: Regularly check your credit report for suspicious activity.
• Beware of scams: Never share personal or financial information over the phone or email unless you verify the source.
• Use strong passwords: Enable two-factor authentication on banking and financial accounts.
• Avoid payday loans: High-interest loans can trap borrowers in a cycle of debt.
• Plan for emergencies: An emergency savings fund can help protect you from unexpected financial setbacks.

What’s Next?

In our next installment, we’ll explore Road Safety Rankings, highlighting which states have the highest risks for accidents, reckless driving, and dangerous road conditions. 

Remember, when you find yourself in harm’s way due to someone else’s actions or negligence, you can contact Morgan & Morgan 24/7. With a free case evaluation, you can learn more about your legal options and what compensation you may be entitled to. With offices in every state across America—including the most dangerous states—we may have a lawyer near you who can help.