Arizona Ranks Poorly In Personal Financial Security

January 31, 2014

The financial security of Arizona residents is 41st best in the country, according to a scorecard released by the Washington, D.C.-based Corporation for Enterprise Development.

Arizona Community Action Association director Cynthia Zwick calls the results “disappointing but not surprising,” and says one thing that could help is a state Earned Income Tax Credit, to help people save some money and improve their chances of a more prosperous future.

“There have been a number of states that have implemented programs at the local level or a state earned income tax program,” Zwick said. “We have not done that here in Arizona, and that’s another program that we could look to supporting in order to help families succeed.”

Arizona also ranks poorly for state policies that would help low and moderate-income families, and is last in the nation for the number of residents defaulting on student loans.

Zwick says college graduates are under-employed in Arizona because there are not enough good jobs available for college graduates.