San Marcos Ranks in the Top 4% of Cities with the Worst Money-Management Skills

Republished with permission from WalletHub

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 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. Good money management skills are more important now than ever during the COVID-19 pandemic.

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

Curious to know how your own money-management skills compare to those of the average person in your city?

Main Findings