2016’s Best & Worst Cities for WalletFitness

by John S Kiernan

WalletFitness is about turning the country’s biggest stressor – money, according to the American Psychological Association – into one of your biggest strengths. It means building an excellent credit score and using the bargaining power that provides to never again overpay for financial products. It means maximizing your earning potential, minimizing debt and protecting yourself with the proper insurance coverage. And, perhaps most importantly, it means spending modestly while saving aggressively for both a comfortable retirement and that proverbial rainy day.

Neither financial success nor monetary fears are experienced equally throughout the country, however, which means WalletFitness levels vary widely as well. So as we take stock of the things we’re most thankful for in life and prepare to make resolutions for self-improvement, it’s fair to wonder who’s best situated for financial success and who has the most work to do.

To find out, we compared the 150 largest U.S. cities based on 27 key metrics which collectively speak to how beneficial each area is for achieving top WalletFitness. You can find the results below, followed by WalletHub’s 6 Tips for Reaching Top WalletFitness and a Q&A with a panel of leading money-management experts.

Main Findings

Overall Rank	City	Total Score	‘Credit Standing’ Rank	‘Responsible Spending’ Rank	‘Savings’ Rank	‘Risk Exposure’ Rank	‘Earning Power’ Rank
1	San Francisco, CA	71.38	2	54	11	2	35
2	Fremont, CA	70.82	1	7	51	1	24
3	Seattle, WA	67.40	9	97	1	22	11
4	San Jose, CA	66.47	4	108	22	3	62
5	Madison, WI	65.75	5	31	20	30	19
6	Overland Park, KS	64.20	16	72	43	33	2
7	Irvine, CA	63.08	7	40	97	5	21
8	Sioux Falls, SD	62.76	20	18	19	63	13
9	Minneapolis, MN	62.64	15	53	4	79	42
10	St. Paul, MN	61.99	12	50	12	78	40
11	Scottsdale, AZ	61.74	25	52	84	19	4
12	Washington, DC	61.39	62	45	3	34	67
13	Gilbert, AZ	61.14	75	43	84	18	1
14	Plano, TX	61.09	29	23	71	42	5
15	Lincoln, NE	60.42	10	14	121	66	24
16	Boston, MA	60.33	8	84	6	57	121
17	Boise, ID	60.21	24	42	48	55	9
18	Honolulu, HI	60.03	3	82	35	28	116
19	Chandler, AZ	59.70	63	28	84	29	3
20	Salt Lake City, UT	59.62	32	44	8	117	31
21	Des Moines, IA	59.44	91	1	37	56	33
22	Huntington Beach, CA	59.11	13	107	97	6	44
23	Austin, TX	58.71	37	39	80	82	6
24	Fort Wayne, IN	58.70	28	2	129	59	52
25	San Diego, CA	58.48	21	118	18	10	104
26	Nashville, TN	58.16	48	105	17	49	32
27	Denver, CO	58.06	64	117	14	48	17
28	Sacramento, CA	57.83	45	75	66	13	85
29	Santa Rosa, CA	57.61	6	136	127	7	113
30	Modesto, CA	57.37	55	24	70	20	96
31	Spokane, WA	57.24	34	65	69	35	70
32	Peoria, AZ	57.09	77	62	84	27	10
33	Columbus, OH	57.06	92	55	23	72	23
34	Omaha, NE	56.84	38	37	62	92	22
35	Portland, OR	56.81	19	113	25	47	68
36	Buffalo, NY	56.61	30	3	2	115	130
37	Durham, NC	56.49	42	47	67	109	12
38	Louisville, KY	56.49	69	10	79	61	49
39	Vancouver, WA	56.45	36	68	40	32	114
40	Cincinnati, OH	56.39	44	11	68	80	75
41	Raleigh, NC	56.39	57	34	77	67	20
42	Pittsburgh, PA	56.38	26	121	15	73	76
43	Tacoma, WA	55.87	76	110	7	51	93
44	Colorado Springs, CO	55.86	51	74	91	44	48
45	Lexington-Fayette, KY	55.48	31	66	137	70	43
46	Port St. Lucie, FL	55.39	65	20	134	53	55
47	Tulsa, OK	55.09	99	60	39	84	45
48	Oceanside, CA	54.78	47	119	46	14	112
49	Aurora, CO	54.61	82	125	26	60	27
50	Rancho Cucamonga, CA	54.31	74	140	106	4	29
51	Virginia Beach, VA	54.28	128	99	29	100	7
52	Grand Rapids, MI	54.24	22	137	53	39	80
53	Irving, TX	54.20	52	57	71	107	18
54	Cape Coral, FL	54.19	67	19	134	65	63
55	Oklahoma City, OK	54.16	106	70	92	58	16
56	Little Rock, AR	54.10	126	13	96	50	39
57	St. Louis, MO	54.07	59	22	42	103	98
58	St. Petersburg, FL	54.00	73	90	122	54	8
59	Oakland, CA	53.73	27	130	51	11	137
60	Charlotte, NC	53.71	129	64	33	94	41
61	Springfield, MO	53.57	18	103	124	88	69
62	Kansas City, MO	53.54	81	104	41	81	53
63	Knoxville, TN	53.26	23	123	95	75	56
64	Chesapeake, VA	53.23	142	85	29	87	26
65	Santa Clarita, CA	53.21	89	115	97	9	59
66	Pembroke Pines, FL	53.10	53	15	147	38	37
67	Chula Vista, CA	53.08	79	132	46	8	118
68	Chicago, IL	53.04	101	95	5	111	115
69	Phoenix, AZ	53.02	95	69	55	96	60
70	Amarillo, TX	52.94	78	12	140	126	15
71	Baton Rouge, LA	52.88	103	86	34	83	81
72	Worcester, MA	52.78	54	9	24	77	142
73	Baltimore, MD	52.72	130	4	16	132	125
74	Mesa, AZ	52.67	56	83	84	74	61
75	Orlando, FL	52.56	109	17	112	98	47
76	Chattanooga, TN	52.51	71	35	58	64	120
77	Glendale, CA	52.35	14	135	97	12	124
78	New York, NY	52.33	11	142	10	90	141
79	Jersey City, NJ	52.20	39	71	59	71	132
80	Jacksonville, FL	51.94	131	21	81	68	71
81	Philadelphia, PA	51.83	116	5	36	112	134
82	Huntsville, AL	51.82	41	58	131	95	90
83	Garland, TX	51.69	83	56	71	125	36
84	Bakersfield, CA	51.65	112	48	123	37	78
85	Rochester, NY	51.61	46	26	9	119	143
86	Indianapolis, IN	51.43	110	100	38	86	86
87	Anchorage, AK	51.42	90	51	138	122	30
88	Stockton, CA	51.39	66	98	114	23	129
89	Dallas, TX	51.38	105	93	28	140	51
90	Yonkers, NY	51.35	50	46	64	100	131
90	Grand Prairie, TX	51.35	137	61	71	105	14
92	Tempe, AZ	51.12	120	112	84	40	38
93	Richmond, VA	51.10	60	94	44	133	83
94	Greensboro, NC	50.95	96	29	82	110	73
95	Los Angeles, CA	50.91	40	143	27	36	138
96	Garden Grove, CA	50.77	17	133	97	16	140
97	Aurora, IL	50.68	94	72	50	106	103
98	Fort Worth, TX	50.54	119	63	63	124	54
99	Reno, NV	50.48	49	134	150	43	77
100	Henderson, NV	50.37	102	101	125	31	50
101	Albuquerque, NM	50.16	100	87	94	85	64
102	Wichita, KS	49.95	68	106	49	130	87
103	Tampa, FL	49.93	98	111	115	76	46
104	Winston-Salem, NC	49.68	70	36	83	120	100
105	Arlington, TX	49.60	111	67	71	121	66
106	Atlanta, GA	49.48	125	92	54	108	79
107	Toledo, OH	49.34	134	6	76	104	106
108	Providence, RI	49.27	72	127	21	52	147
109	Akron, OH	49.19	113	8	61	102	136
110	Anaheim, CA	49.14	35	141	97	26	123
111	Cleveland, OH	49.09	104	16	57	136	139
112	Glendale, AZ	49.01	107	89	84	69	101
113	Long Beach, CA	48.93	58	124	97	25	135
114	Newport News, VA	48.73	144	79	29	129	88
115	Corpus Christi, TX	48.62	135	25	140	139	34
116	Riverside, CA	48.58	88	145	106	15	82
117	Ontario, CA	48.02	84	144	106	17	105
118	Fresno, CA	47.90	86	126	113	45	126
119	Houston, TX	47.80	93	59	93	147	72
120	Fort Lauderdale, FL	47.74	108	49	145	91	57
121	Birmingham, AL	47.69	118	33	56	138	133
122	Milwaukee, WI	47.24	122	131	13	131	127
123	Lubbock, TX	47.23	97	128	140	114	58
124	Tucson, AZ	46.80	61	114	130	116	102
125	Mobile, AL	46.70	115	32	131	123	111
126	Jackson, MS	46.65	149	91	65	97	108
127	San Antonio, TX	46.50	143	122	105	113	28
128	Augusta, GA	46.49	117	38	117	134	89
129	Memphis, TN	45.97	148	30	78	137	110
129	Fontana, CA	45.97	127	146	106	21	95
131	Tallahassee, FL	45.96	80	149	134	89	65
132	Las Vegas, NV	45.64	124	109	120	93	84
133	Shreveport, LA	45.11	121	96	119	127	107
134	El Paso, TX	45.09	114	27	149	141	74
135	Norfolk, VA	45.02	146	116	29	146	99
136	Moreno Valley, CA	44.98	145	138	106	24	117
137	Santa Ana, CA	44.49	33	148	97	46	145
138	Montgomery, AL	44.00	138	76	131	128	119
139	Fayetteville, NC	43.84	140	88	139	135	94
140	Oxnard, CA	43.64	43	150	118	62	122
141	Columbus, GA	43.26	136	78	146	144	97
142	New Orleans, LA	43.02	139	139	116	99	92
143	Detroit, MI	43.01	147	41	45	148	148
144	Laredo, TX	42.41	123	77	140	149	91
145	San Bernardino, CA	40.71	132	147	106	41	146
146	Miami, FL	40.53	87	102	128	143	144
147	North Las Vegas, NV	39.82	150	120	125	118	109
148	Hialeah, FL	38.77	85	81	147	142	149
149	Brownsville, TX	38.12	133	80	140	150	128
150	Newark, NJ	37.38	141	129	59	145	15

6 Tips For Reaching Top WalletFitness

Reaching Top WalletFitness is by no means easy to do, but it is possible. And while no simple set of tips will drive you straight to the financial summit, the following pointers will certainly get you started.

1. Building Excellent Credit – Always pay your bill on time

   Payment history is the most important component of your credit score, accounting for at least 35% of your overall rating. That means on-time payments are the key to a great credit score, which in turn means that automated monthly payments from a deposit account can be extremely helpful. And if you’re wondering why great credit is important, just consider the fact that an individual with excellent credit is likely to save hundreds of thousands of dollars over the course of his or her lifetime, compared to someone with bad credit.

2. Minimizing Debt – Don’t allow luxuries to become necessities

   It’s easy to become so accustomed to the finer things in life that you start to believe you need them to survive. But if such creature comforts cause your monthly spending to exceed your monthly income, they’ll gradually bleed your wallet dry and leave you mired in expensive credit card debt. Once that happens, it will only be a matter of time before your unsustainable spending habits lead to delinquency and perhaps default, thereby ruining your credit standing and making it more difficult to recover. Trying to play catch up will also leave you extremely vulnerable to any sort of financial emergency.

   To prevent such negative outcomes from becoming reality, begin by strategically paying down what you owe. If you have multiple credit card balances, make minimum payments on all but the balance with the highest interest rate, to which you’ll allocate the lion’s share of your monthly debt payments. When that balance is gone, repeat the process with your remaining balances until debt free. And once you’ve accomplished that, designate a single credit card to use for everyday purchases. Everyday purchases, by definition, should be affordable without tapping into debt. So if you ever see finance charges on your everyday account, you’ll know you’re overspending.

3. Getting the Best Deals – Make sure to comparison shop

   It’s easy to just assume you’re getting the best deal on your credit cards, loans and insurance policies, especially if you have above-average credit. But your needs and the offers available to you both change on a regular basis. So there’s a good chance you’ll find yourself leaving money on the table if you aren’t careful. One of the best ways to be sure you always have the best deal is to sign up for a free WalletHub account. Not only will you receive your latest credit score and personalized advice for how to improve it, but WalletHub will constantly scour the market on your behalf looking for upgrades. Whenever there’s something worth knowing about, you’ll receive a notification.

4. Maximizing Earning Power: Get trained in a new skill

   The little things certainly do matter to financial success, but sometimes it’s more efficient to make a big move. After all, you could drive yourself crazy pinching pennies for years on end and still not create as much breathing room in your budget as you could by investing in your future earning power. In other words, it’s worth considering both sides of the coin.

   Fortunately, there are more ways than ever to boost your money-making potential. For example, many reputable colleges and universities offer online classes, giving you the flexibility to work towards a degree without entirely uprooting your life. There are countless specialized training programs available, too, allowing you to cost-effectively learn a trade or at least pick up a marketable new skill.

5. Preparing for Financial Emergencies: Plan for the worst; hope for the best

   Anyone who’s played “The Game of Life” knows the unexpected can easily unravel carefully laid plans if you aren’t prepared. And the same is true of real life; the stakes are just much higher. So while there’s no predicting exactly what might come your way or when, if ever, it will, there’s also little reason to leave your life and livelihood to chance. At a minimum, that means you should begin building a robust emergency fund and make sure you have sufficient insurance coverage. That will help ensure an emergency doesn’t become a catastrophe.

6. Saving for Retirement: Let compound interest work for you

   You really can’t start saving for retirement too early. After all, the sooner you begin making contributions to a retirement account, the more compound interest will be able to work its magic and the less impactful underperforming investments will be.

   Just consider the fact that someone who begins saving at age 25 needs to contribute about $450 per month to reach $1 million by age 65, assuming a 7% annual rate of return. Someone who starts at age 35, on the other hand, would have to save twice as much per month. So that 10-year head start therefore saves the early bird roughly $9,000 in total contributions.

Finally, our bonus tip is to sign up for a free WalletHub account. Not only will you receive access to your latest credit score and report, updated daily, but you’ll also benefit from 24/7 credit monitoring and personalized advice that will make Top WalletFitness much easier to reach.