Only two in five adults say they maintain a budget and keep close track of their spending and nearly one in four say they don’t pay their bills on time.
Where do the consumers live who are the best at money management? How about those who are the worst?
WalletHub, a personal finance website, conducted an analysis of “2016's Best and Worst Cities at Money Management.” It compared 2,570 cities based on eight factors. The data range from “credit score” to “average number of late payments” to “mortgage debt-to-income ratio.”
Comparing the best and worst
- Athens, Ohio, has the highest credit-card debt-to-income ratio, 113 percent, which is 23 times greater than in Cupertino, Calif., the city with the lowest, 5 percent.
- Boone, N.C., has the highest mortgage debt-to-income ratio, which is 18 times greater than in West Mifflin, Pa., the city with the lowest.