PROVIDENCE – Budget habits of residents in the Providence-Warwick-Fall River metropolitan area are better than those in 100 other metro areas, according to WalletHub’s latest survey.
The personal finance website surveyed 150 metropolitan areas to determine the areas with the best and worst budgeters, examining such things as average credit score and the percentage of unbanked households.
The Providence-Warwick metro ranked 49th overall on the list, but ranked better in the saving category, where it placed 29th. Its credit rank was 44th. Its lowest rank came in the category of spending and debt at 92nd.
WalletHub said that “roughly three in five adult Americans do not maintain a budget, and 14 percent say they don’t even have a good idea of what they spend on expenses such as housing, food and entertainment.”
“In the interest of giving the most responsible consumers their just due while putting everyone else on notice, WalletHub searched for the best and worst budgeters in the United States,” the explanation about the rankings states.
The best budget habits can be found in the Fargo, N.D. metro area. The Boston-Cambridge-Newton, Mass.-N.H. area ranked fifth on the list for best budget habits, and ranked third for saving.
The Jackson, Miss., metro area ranked last on the list.
WalletHub also gave tips about better budgeting, such as “feed an emergency fund” and rank expenses to determine what’s necessary and “what are luxuries that drag you into debt.”
Home Economy Economic Activity WalletHub: Prov.-Warwick metro ranks 49th out of 150 metros for budget habits
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