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Cities where consumers are the best and worst at money management

Puzzle-Dollar Bill With Puzzle Pieces Out ge27b436b9_640Only 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.
  • Boone, N.C., has the highest car-loan debt-to-income ratio, 404 percent, which is 27 times greater than in Scarsdale, N.Y., the city with the lowest, 15 percent.
  • East Lansing, Mich., has the highest student-loan debt-to-income ratio, 745 percent, which is 24 times greater than in Saratoga, Calif., the city with the lowest, 31 percent.
  • Alice, Texas, has the highest average number of late payments, 6.96, which is 16 times greater than in Saratoga, Calif., the city with the lowest, .45.
  • San Tan Valley, Ariz., has the highest average percentage of credit used, 61.3 percent, which is three times greater than in Laguna Woods, Calif., the city with the lowest, 20 percent.
 

Cities whose residents have the best money-management skills

 

Cities whose residents have the worst money-management skills

 

1

Cupertino, Calif.

 

2551

Lancaster, Texas

 

2

Saratoga, Calif.

 

2552

College Park, Ga.

 

3

Laguna Woods, Calif.

 

2553

Buckeye, Ariz.

 

4

Los Altos, Calif.

 

2554

Indiana, Pa.

 

5

Lexington, Maine

 

2555

Capitol Heights, Md.

 

6

Sun City Center, Fla.

 

2556

Rio Grande City, Texas

 

7

Pittsford, N.Y.

 

2557

Statesboro, Ga.

 

8

Palo Alto, Calif.

 

2558

Clinton, Md.

 

9

Scarsdale, N.Y.

 

2559

Lithonia, Ga.

 

10

Chevy Chase, Md.

 

2560

Fairburn, Ga.

 

11

Winchester, Maine

 

2561

Collegeville, Pa.

 

12

Sun City West, Ariz.

 

2562

State College, Pa.

 

13

Potomac, Md.

 

2563

East Stroudsburg, Pa.

 

14

Foster City, Calif.

 

2564

Mount Pleasant, Mich.

 

15

Sunnyvale, Calif.

 

2565

East Lansing, Mich.

 

16

Mountain View, Calif.

 

2566

Pullman, Wash.

 

17

McLean, Va.

 

2567

College Park, Md.

 

18

Bethesda, Md.

 

2568

Gettysburg, Pa.

 

19

Belmont, Maine

 

2569

Athens, Ohio

 

20

Arlington, Maine

 

2570

Boone, N.C.

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