Money management is a life skill that unfortunately isn’t taught as often as it should be. It’s a skill that everyone should want to learn too, as it can bring about flawless credit and freedom from debt. But a survey of consumer financial literacy reflects a growing need for financial instruction in U.S. households. Only 55 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.
It’s clear that some Americans are better than others at handling their finances. In order to determine where they live, WalletHub compared more than 2,500 cities based on 10 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 skills compare to those of the average person in your city? Join WalletHub to see a free daily-updated analysis of your credit report and score.
