The best and worst cities for money management skills

Money management is the process of budgeting, saving, investing, and spending money wisely to achieve financial goals. It involves creating a plan to make the most of one’s resources and to make informed decisions.

By studying over 2,500 cities based on 10 key indicators of money management from two categories: debt level and financial behavior, WalletHub has identified the cities with the best and worst money-management skills.

Topping the list are Cupertino, California; Lexington, Massachusetts; and Scarsdale, New York. These financial-savvy cities are home to residents who have developed smart money habits and know how to manage their finances with ease. On the other hand, the cities with the worst-money-management skills include Conyers, Georgia; Jacksonville, North Carolina; and Columbus, Mississippi.

Check out the list below to see if your city ranks:

Cities with the Best Money-Management Skills

1. Cupertino, California
2. Lexington, Massachusetts
3. Scarsdale, New York
4. Los Altos, California
5. Chevy Chase, Maryland
6. Redmond, Washington
7. Deerfield, Illinois
8. Bronxville, New York
9. McLean, Virginia
10. Chesterfield, Missouri
11. Palo Alto, California
12. Leawood, Kansas
13. Sammamish, Washington
14. Libertybille, Illinois
15. Northbrook, Illinois
16. Needham, Massachusetts
17. Saratoga, California
18. Powell, Ohio
19. San Carlos, California
20. Sunnyvale, California

Cities with the Worst Money-Management Skills

1. Conyers, Georgia
2. Jacksonville, North Carolina
3. Columbus, Mississippi
4. Troy, Alabama
5. Austell, Georgia
6. Walterboro, South Carolina
7. Miami Gardens, Florida
8. Rio Grande City, Texas
9. Covington, Georgia
10. Hope Mills, North Carolina
11. Dolton, Illinois
12. Hampton, Georgia
13. Lithonia, Georgia
14. Jonesboro, Georgia
15. College Park, Georgia
16. Ruston, Louisiana
17. Fairburn, Georgia
18. Maple Heights, Ohio
19. Bastrop, Louisiana
20. Canton, Mississippi

This story was originally published March 9, 2023 at 11:41 AM with the headline "The best and worst cities for money management skills."

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