2019’s Best & Worst Cities at Money Management

From WalletHub, Feb 27, 2019

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. Their data set ranges from average credit score to average number of late payments to mortgage debt-to-income ratio….

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Rank (1=Best) City Percentile Rank* Median Credit Score Credit-Card Debt-to-Income Ratio Mortgage Debt-to-Income Ratio Car-Loan Debt-to-Income Ratio Student-Loan Debt-to-Income Ratio Avg. Number of Late Payments 631 Aiea, HI 75 745 5.49% 605.96% 28.54% 37.59% 2.02 713 Pearl City, HI 72 733 5.11% 582.33% 31.54% 31.24% 2.51 911 Honolulu, HI 65 733 5.90% 701.89% 32.07% 43.99% 2.26 983 Kaneohe, HI 62 741 5.99% 681.39% 28.92% 40.03% 2.12 1128 Mililani Town, HI 56 753 5.89% 587.94% 29.57% 35.55% 1.83 1350 Hilo, HI 48 714 6.58% 466.17% 36.92% 43.48% 2.98 1411 Wailuku, HI 45 709 5.98% 629.87% 34.90% 32.41% 3.72 1502 Kihei, HI 42 722 6.62% 705.76% 33.42% 46.34% 3.04 1874 Kapolei, HI 27 717 6.43% 668.30% 37.46% 38.43% 3.05 2032 Kailua, HI 21 747 8.55% 1031.55% 37.49% 60.69% 1.5 2136 Wahiawa, HI 17 665 6.90% 595.42% 42.89% 35.79% 5.08 2293 Waipahu, HI 11 706 7.37% 887.21% 47.23% 43.25% 3.31 2312 Kahului, HI 10 696 6.90% 955.34% 47.40% 50.89% 2.54 2337 Lahaina, HI 9 693 8.37% 975.56% 46.41% 37.85% 2.87 2394 Waianae, HI 7 643 6.68% 611.31% 49.24% 46.36% 5.46 2548 Ewa Beach, HI 1 705 9.91% 1012.99% 49.00% 51.29% 3.59

Highest Mortgage Debt to Income Ratio

2568th – Kahului, HI

2569th – Lahaina, HI

2570th TIE -- Bell Gardens, CA (Worst in USA)

2570th TIE – Ewa Beach, HI (Worst in USA)

2570th TIE – Kailua, HI (Worst in USA)