According to a recent WalletHub study on Millennials that looked at all 50 states and Washington, D.C., North Dakota ranked high in many categories—placing it in the No. 1 spot as the best state in the U.S. for Generation Y.

THOUGHTS FROM A MILLENNIAL

KAILEY BERRY
Sophomore – Elementary Education at Concordia College

As part of the study, WalletHub asked a panel of experts for their insight into a number of Millennial-related workforce topics. We asked a local Millennial the same questions, and these are her thoughts.

Q: Are Millennials more or less financially savvy than previous generations?
Kailey Berry: “I think that, in some ways, Millennials are both more and less financially savvy. As a millennial, I think the current financial knowledge that I possess is less than what other generations do, but I’m also younger and have not had as much practical financial experience.

“Hopefully, one day my generation—and myself—will get to a point where we are as savvy as the other generations. That being said, I also think we’re more savvy than other generations in some ways, too. We have the ability to seek out financial information very quickly by looking it up on the internet, and there are so many apps and features that track our spending so we have the ability to be aware of our spending habits and budgeting.”

2. How are the financial habits and behaviors of Millennials different from older cohorts?
Berry: “I think we value different things than other generations. I think we allow more of our spending toward experiences, and that isn’t necessarily something that generations before us have valued.

3. Are Millennials more or less likely to talk about money than other groups?
Berry: “I’m not really sure how other groups talk about money so I can’t really compare Millennials to other groups. I can, however, say that I am personally more likely to talk to somebody in my age group about money and finances than I am with other people who aren’t necessarily in my age group.

“I feel like my friends are in the same boat as me, and so we can talk about money and finances and have somebody who understands what we are feeling regarding our finances. I know that all other generations before me have also been in a similar situation (at one point) where they are young and entering into adulthood—the “real world.” But now, (with them) being pretty far removed from that situation, I find it more beneficial to talk about those things with my peers.”

4. What are the most common mistakes Millennials make when starting their careers?
Berry: “To me, the word ‘mistake’ means they did something wrong. In terms of careers, that is such an individual process, and if somebody makes a choice regarding their career, I don’t think it’s a mistake. If it’s a choice they made for their career, it’s the right choice for them.”

OVERALL RANK

1. North Dakota
2. Minnesota
3. South Dakota
4. Iowa
5. Washington, D.C.

Categories Evaluated:

• Affordability
• Education & Health
• Quality of Life
• Economic Health
• Civic Engagement

North Dakota ranked…

#1 in quality of life.
#1 in economic health.
#3 in affordability.
#9 in education and health.
#16 in civic engagement.

MILLENNIAL HOUSING COSTS

LOWEST

1. Iowa
2. North Dakota
3. Oklahoma
4. Kentucky
5. West Virginia

HIGHEST

47. Massachusetts
48. Washington, D.C.
49. New Jersey
50. California
51. Hawaii

MILLENNIAL UNEMPLOYMENT RATE

LOWEST

1. North Dakota
2. Nebraska
3. South Dakota
4. Wyoming
5. Iowa

HIGHEST

47. California
48. Connecticut
49. Florida
50. Michigan
51. Mississippi

% OF MILLENNIALS

HIGHEST

1. Washington D.C.
2. North Dakota
3. Utah
4. Alaska
5. California

LOWEST

47. New Jersey
48. Florida
49. New Hampshire
50. West Virginia
51. Maine

MILLENNIALS LIVING WITH PARENTS

LOWEST %

1. North Dakota
2. Washington D.C.
3. Wyoming
4. South Dakota
5. Nebraska

HIGHEST %

47. Maryland
48. Florida
49. New York
50. Connecticut
51. New Jersey

OTHER STUDY HIGHLIGHTS

MEDIAN HOUSEHOLD INCOME FOR MILLENNIALS

Highest – Washington, D.C.
Lowest – Idaho

MILLENNIAL HOME-OWNERSHIP RATE

Highest % – Minnesota
Lowest % – Washington, D.C.

MILLENNIALS W/ HEALTH INSURANCE

Highest % – Massachusetts
Lowest % – Texas

MILLENNIALS W/ DEPRESSION

Lowest % – California
Highest % – Oregon