Menlo Park Ranks 36th in Best Money Management Skills

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WalletHub analyzed 2,534 U.S. cities on their money management skills based on 10 criteria. The 10 criteria were divided between debt level and financial behavior. Debt level looks at debt-to-income ratios on items such as credit cards, mortgages, and loans. Financial behavior looks at items like credit scores, late payments, and foreclosures.

Money Management in Menlo Park (99th Percentile = Best)

• Median Credit Score 753
• Credit-Card Debt-to-Income Ratio (5.63%) (94th Percentile)
• Mortgage Debt-to-Income Ratio (791.3%) (10th Percentile)
• Car-Loan Debt-to-Income Ratio (20.78%) (98th Percentile)
• Student-Loan Debt-to-Income Ratio (35.23%) (95th Percentile)
• Avg. Number of Late Payments (1.09)
• Avg. % of Credit Used (34.16%)
• Foreclosure Rate (0.0061%)

Increase your financial stability by learning more about money management.
First Republic Bank on “How to Teach Your Children About Investing”
Bank of the West on “7 Simple Steps to Saving More Money”
Union Bank on “Borrowing Wisely”

March 24th, 2017|Featured|