Poll: Gillette Ranks Low on the Money Management Scale
GILLETTE, Wyo.— Gillette may not be the worst at money management, but we’re by no means the best nationally or statewide, according to a recent survey. WalletHub’s National Financial.
Gillette residents reported credit scores, debt-to-income ratios, and a number of late payments made each year on average in the 29th percentile in terms of money management, per WalletHub.
On average, Gillette reported a median credit score of 691, an average of nearly three late payments per year, and debt ratios that earned the community an overall ranking of 1,823 out of a total of 2,572 cities. studied across the United States. .
The debt-to-income ratio has been broken down into several categories: mortgage, student loan, credit card debt and car loan. The ratio for mortgages was 328.26%, student loans 31.85%, credit card debt 4.76% and car loans 42.20%.
The investigation also included reports from Casper and Cheyenne; of the three, Gillette was bottom in terms of money management.
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Cheyenne was ranked at 1,224, reported a median credit score of 712 and an average of 2.7 late payments per year. The city’s debt-to-income ratio for mortgages stood at 419.45%, student loans at 37.54%, credit card debt at 4.84% and auto loans at 39.85% , according to the survey.
Casper had a median credit score of 698, an average of 2.5 late payments per year, and was ranked at 1,210. The debt-to-income ratio for Casper mortgages was 334.31%, student loans of 42.88%, credit card debt 4.85% and car loans 41.63%.
For comparison, the city that topped the list was Scarsdale in the 99th percentile was Scarsdale, New York, which reported a median credit score of 768 and an average of less than one late payment per year.
The city that came bottom was Willis, Texas, which reported a median credit score of 676 and an average of 4.6 late payments per year.