With good money management skills being crucial for financial success and a good credit score, the personal-finance website WalletHub today released its report on the Cities Where People Have the Best Money Management Skills in 2024, with Chevy Chase making it on the list at #5.
According to the report, Chevy Chase residents have a median credit score of 772, a credit card debt to income ratio of 2.37%, mortgage debt to income ratio of 251.37%, car loan debt to income ratio of 8.08%, and student loan debt to income ratio of 13.38%.
In order to determine where Americans are best at handling their finances, WalletHub compared more than 2,500 cities based on 10 key indicators of money-management skills. The data set ranges from the median credit score to the average number of late payments to the mortgage debt-to-income ratio.
| Cities with Best Money-Management Skills | Cities with Worst Money-Management Skills |
| 1. Cupertino, CA | 2538. Greenwood, MS |
| 2. Los Altos, CA | 2539. Hampton, GA |
| 3. Lexington, MA | 2540. Davenport, FL |
| 4. Palo Alto, CA | 2541. Covington, GA |
| 5. Chevy Chase, MD | 2542. Maple Heights, OH |
| 6. Sunnyvale, CA | 2543. Locust Grove, GA |
| 7. Saratoga, CA | 2544. Ruston, LA |
| 8. Scarsdale, NY | 2545. Jonesboro, GA |
| 9. McLean, VA | 2546. Leesville, LA |
| 10. Mountain View, CA | 2547. Canton, MS |
Emergency Savings Survey
- Hidden danger of inflation: 35% of Americans say inflation makes it harder to save for emergencies.
- Unprepared for emergencies: 44% of people are not confident they can cover an unexpected expense.
- Dipping into the cookie jar: 3 in 5 Americans say inflation has caused them to dip into their emergency savings to cover day-to-day expenses.
- Financial priorities: 2 in 5 Americans say paying off debt is their top financial goal, prioritizing it over things like building an emergency fund and contributing to their retirement savings.
- Broke & bailed out: Nearly 1 in 3 people expect someone else to bail them out if they run out of money.
- No savings to save the day: More than 2 in 5 Americans don’t have the financial means to come up with $5,000 in a day to save a loved one’s life.
To view the full survey, please visit:
https://wallethub.com/blog/emergency-savings-survey/133932
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FEST OF SPRING Caribbean Wine Food & Music Festival
Get ready to experience the vibrant colors, tantalizing flavors, and infectious rhythms of the Caribbean at the FEST OF SPRING Caribbean Wine Food & Music Festival! Hosted by RHU LLC, this exciting festival is set to take place on May 18, 2024, at the picturesque 16700 Barnesville Rd in Boyds, MD.
Step into a world where the Caribbean spirit comes alive! From 12:00 PM onwards, immerse yourself in a sensory journey that celebrates the unique culture, cuisine, and music of the Caribbean. Whether you’re an African American, a Reggae or Soca music enthusiast, a wine lover, or part of the vibrant Caribbean diaspora, this festival promises to delight and captivate you in every way.
