OR State Treasurer Releases 2024 Financial Empowerment Scorecard

Posted by Pam Leavitt on February 20, 2024

The Oregon Financial Scorecard offers a statistical view of the financial condition, knowledge and decision making of Oregonians, across the state, to help policymakers and the public understand how individuals and house- holds are faring across a cross-section of interconnected economic factors.

Treasurer Tobias Read announced the 2024 Scorecard last week.  This year report states, “more Oregonians reported difficulty making ends meet each month.  Also, more than half of the respondents to a statewide survey says they have never taken any sort of class to learn how to manage money.”

Among the other data highlights in the newly published Scorecard:
• 30.5% of Oregonians said they could not come up with $2,000 if faced with a financial emergency, compared to 29% of people nationally. That rate was worse among Oregon renters (54%), people with a high school education or less (53%), those in communities of color (49%), and parents with children under 19 (45%).
• After years of steady declines, bankruptcy filings in Oregon climbed markedly in almost every county in 2023. Filings also increased nationally, but the percentage change was twice as high in Oregon for the period that ended September 2023. 
• Averages don’t tell the entire story. While average household income rose, it varied dramatically based on Oregon county and race, which echoes national data. And while average household wealth also climbed, the number of Oregon households with zero or negative net wealth also increased. Nationally, the percentage of households with zero net worth is higher, but is declining. 

You can find the full report here.

Posted in Advocacy on the Move, Oregon Advocacy.