The best and worst cities for wallet fitness

Photo: Pixabay via MGN Online

WASHINGTON (SBG) – Money is the No. 1 cause of stress among Americans according to Northwestern’s Mutual’s 2018 Planning & Progress Study.

Building excellent credit, minimizing debt, maximizing earning power, preparing for financial emergencies, and saving for retirement is helpful to attaining top Wallet Fitness.

Wallet Hub compared more than 180 U.S. cities to determine where people are the best and worst financially, using metrics such as unemployment, poverty, foreclosure rates, and saving habits.

The city that took the top spot as the best for financial shape is Fremont, California. The worst city is Hialeah, Florida.

However, Gilbert, Arizona has the highest median household income of $90,085 according to the report, while Hialeah, Florida, is the city with the lowest at $25,474.

Detroit has the lowest median credit card debt per person, $1,690. Juneau, Alaska, is the city with the highest at $4,166.

Pearl City, Hawaii, has the lowest share of uninsured residents at 3.3 percent. Brownsville, Texas, the city with the highest at 33.4 percent.

If you are looking to buy property, Baltimore has the highest foreclosure rate of 0.1401 percent. Fargo, North Dakota has the lowest foreclosure rate of 0.0077 percent.

The most prepared city for financial emergencies is Salt Lake City, Utah. It has the highest percentage of households with emergency savings while Pembroke Pines, Florida ranks last in this category.

Here is a list of the top ten best and worst cities for your wallet around the nation.

10 Best Cities for Wallet Fitness

1. Fremont, Calif. (Best)

2. Seattle, Wash.

3. San Francisco, Calif.

4. San Jose, Calif.

5. Madison, Wis.

6. Boise, Idaho

7. Minneapolis, Minn.

8. Overland Park, KS

9. Orlando, Fla.

10. Pearl City, Hawaii

Worst cities for Wallet Fitness

1. Shreveport, La.

2. Fayetteville, N.C.

3. El Paso, Texas

4. Columbus, Ga.

5. Newark, N.J.

6.Laredo, Texas

7. Cleveland, Ohio

8. Gulfport, Miss.

9. Brownsville, Texas

10. Hialeah, Fla. (Worst)

Didn’t see your city on the list? Click here to read the full report.