Sorry Raeford and Jacksonville friends. It seems that you – along with many other North Carolina cities – may not be so good at money management.
According to the latest survey from our friends at WalletHub.com, those cities come in not just at the bottom of the state but also the country for money management. Only the good folks in Willis, Texas might be worse at in fact, as Raeford came in ranked No. 2,571 on the list.
WalletHub ranked 2,572 U.S. cities on money management (but don’t worry we read all that for you!). Their rankings were based on 10 key indicators. Indicators included things like average credit scores, late mortgage payments, and debt-to-income ratios.
Charlotte’s scores were nothing to write home about coming in at the 45th best city in the state and 37th percentile. Huntersville, Matthews, Cornelius, and Waxhaw y’all had rankings to be proud of.
Among North Carolina cities, Cary came out best overall, ranked at No. 96 in the country at money management. You can view the full rankings of all NC cities below.
“A survey of consumer financial literacy reflects a growing need for financial instruction in U.S. households. Only 57% of adults, for instance, give their knowledge of personal finance high marks, and 47% maintain a budget and keep an eye on their spending,” WalletHub said in their release. “Good money management skills are more important now than ever during the COVID-19 pandemic.”
Here’s where every North Carolina city ranks on money management, as well as the top cities in the United States, led by Scarsdale, New York, and Cupertino, California (the home of Google):
No. 96 - Cary
96th percentile, median credit score of 763
No. 352 - Cornelius
86th percentile, median credit score of 751No. 792 - Huntersville
69th percentile, median credit score of 741
No. 937 - Albermarle
64th percentile, median credit score of 671
No. 1116 - Wake Forest
57th percentile, median credit score of 744
No. 1208 - Hickory
53rd percentile, median credit score of 695
No. 1320 - Asheville
49th percentile, median credit score of 722
