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WalletHub study: 2023’s best and worst cities at money management

With 44% of U.S. adults grading their knowledge of personal finance a C or lower and good financial skills being essential during this time of high inflation, the free credit score website WalletHub released its report on 2023’s Best & Worst Cities at Money Management, as well as expert commentary.

In order to determine where Americans are best at handling their finances, WalletHub compared more than 2,500 cities based on 10 key indicators of money-management skills. The data set ranges from the median credit score to average number of late payments to mortgage debt-to-income ratio.

Cities with Best Money-Management Skills Cities with Worst Money-Management Skills
1. Cupertino, CA 2549. Conyers, GA
2. Lexington, MA 2550. Jacksonville, NC
3. Scarsdale, NY 2551. Columbus, MS
4. Los Altos, CA 2552. Troy, AL
5. Chevy Chase, MD 2553. Austell, GA
6. Redmond, WA 2554. Walterboro, SC
7. Deerfield, IL 2555. Miami Gardens, FL
8. Bronxville, NY 2556. Rio Grande City, TX
9. McLean, VA 2557. Covington, GA
10. Chesterfield, MO 2558. Hope Mills, NC
11. Palo Alto, CA 2559. Dolton, IL
12. Leawood, KS 2560. Hampton, GA
13. Sammamish, WA 2561. Lithonia, GA
14. Libertyville, IL 2562. Jonesboro, GA
15. Northbrook, IL 2563. College Park, GA
16. Needham, MA 2564. Ruston, LA
17. Saratoga, CA 2565. Fairburn, GA
18. Powell, OH 2566. Maple Heights, OH
19. San Carlos, CA 2567. Bastrop, LA
20. Sunnyvale, CA 2568. Canton, MS

Best vs. Worst

  • East St. Louis, Illinois, has the lowest mortgage debt-to-income ratio, 121.14 percent, which is 8.9 times lower than in Ewa Beach, Hawaii, the city with the highest at 1,083.35 percent.
  • Deer Park, New York, has the lowest student-loan debt-to-income ratio, 6.95 percent, which is 14.2 times lower than in Carbondale, Illinois, the city with the highest at 98.37 percent.
  • Mercer Island, Washington, has the lowest share of people delinquent on their debt, 0.16 percent, which is 81.1 times lower than in Jackson, Mississippi, the city with the highest at 12.98 percent.

To view the full report and your city’s rank, please visit:

This article was released by WalletHub.