Three of the Best Cities at Money Management are in Montgomery County

Three of the top 20 cities with the best money-management skills are in Montgomery County, according to a new report by WalletHub.

The personal finance website WalletHub ranks Chevy Chase (#11), Potomac (#16), and Bethesda (#20) in the top 20 cities with the best money-management skills in America list. The number one city on the list is Cupertino, Calif in Silicon Valley, home of Apple headquarters.

WalletHub’s analysts used data from the U.S. Census Bureau, TransUnion and Renwood RealtyTrac. They compared more than 2,500 cities for ten key indicators:

• Credit-card debt-to-income ratio
• Mortgage debt-to-income ratio
• Car-loan debt-to-income ratio
• Student-loan debt-to-income ratio
• Average percentage of credit used
• Median credit score
• Average number of late payments
• Share of delinquent debtors
• Share of adults with a recent bankruptcy
• Foreclosure rate

Only one other city in the D.C. Metro area ranked in the top 20 and that was McLean, Virginia at number 10. California has eight cities ranked in the top 20, including Cupertino, Saratoga, Los Altos, Palo Alto, Mountain View, Sunnyvale, Foster City, and Seal Beach.

The top 20 cities with the best money management skills are in order Cupertino, Calif.; Scarsdale, N.Y.; Saratoga, Calif.; Los Altos, Calif,; Lexintgton, Mass.; Palo Alto, Calif.; Mountain View, Calif.; Sunnyvale, Calif.; Princeton, N.J.; McLean, Va.; Chevy Chase, Md.; Sun City West, Ariz.; Bronxville, N.Y.;Foster City, Calif.; Seal Beach, Calif.; Potomac, Md.; Redmond, Wash.; Troy, Mich.; Southlake, Texas; and Bethesda, Md.

Click here for the full report.

About Michelle Queen

View all posts by Michelle Queen