2017’s Best & Worst Cities at Money Management
Money management is a life skill that unfortunately doesn’t come with a standard manual. If it did and we all followed the rules, everyone would have flawless credit and no debt. But a survey of consumer financial literacy reflects a growing need for financial instruction in U.S. households. Only 56 percent of adults, for instance, give their knowledge of personal finance high marks, and just two in five maintain a budget and keep an eye on their spending.
But some Americans are better than others at handling their finances. In order to determine where they live, WalletHub’s analysts compared 2,534 cities based on eight key indicators of money management. Our data set ranges from “average credit score” to “average number of late payments” to “mortgage debt-to-income ratio.” Read on for our findings and expert advice from a panel of researchers.
Curious to know how your own money-management chops stack up against those of the average person in your city? Join WalletHub to see an analysis of your free credit report and score.