In a recent list of 2570 cities across the nation ranked on how they manage their money, the financial website Wallethub ranked Greensboro, North Carolina a dismal 2044. With the exception of Boone which was dead last, almost every city in the state ranked higher. From Wallethub:
"In light of such need for financial instruction in our schools, WalletHub’s analysts compared 2,570 cities based on eight key metrics that speak to consumers’ ability to keep their financial house in order. Our data set ranges from “credit score” to “average number of late payments” to “mortgage debt-to-income ratio.” Scroll down to see how your city fared and what experts have to say about money matters."
Percentile Rank* 20
Credit Score 647.19
Credit Card Debt to Income Ratio 20.64%
Mortgage Debt ti Income Ratio 555.84%
Car-Loan Debt to Income Ratio 63.07%
Student-Loan Debt-to-Income Ratio 125.38%
Average Number of Late Payments 3.33
|Also from Wallethub:|
"But the average credit score in the U.S. — 668, which is considered “fair” by the most common scoring model..."
Greensboro's credit score is 647.19, below "fair." Greensboro ranks in the bottom 20th percentile in terms of money management. It's time for a change.
And remember: we broke the story first here at EzGreensboro.com