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Hartford Area Ranks High In Study Of Best Budgeters

April 23, 2015 | Reprints | Unlock Link | Print

Connecticut is home to some of the best budgeters in the country, according to new report from WalletHub.

The Hartford-West Hartford-East Hartford metro area ranked at No. 22 out of 150 metros on WalletHub’s list of the metro areas with the best budgeters.

Residents of Fargo, N.D.-Minn. came in at No. 1 in the studied, followed by Sioux Falls, S.D.; Rochester, Minn.; Minneapolis-St. Paul-Bloomington, Minn.-Wisc.; and Boston-Cambridge-Newton, Mass.-N.H.

To gauge the overall budgeting capability of Americans, WalletHub ranked 150 metropolitan statistical areas by examining 16 metrics, which were assigned to three main categories: spending and debt, credit and saving.

Roughly three in five Americans adults do not maintain a budget, according to the National Foundation for Credit Counseling, and 14 percent reported not having a good idea of what they spend on expenses such as housing, food and entertainment.