Report: Clarksville in top 3 percent of cities with worst money-management skills

CLARKSVILLE, Tenn. (CLARKSVILLENOW) – With 45 percent of U.S. adults grading their knowledge of personal finance a C or lower, WalletHub recently released its report on 2019’s Best & Worst Cities at Money Management.

According to the report, Clarksville, TN ranked in the top three percent of cities with the worst money-management skills.

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 median credit score to average number of late payments to mortgage debt-to-income ratio.

Money Management in Clarksville (99th Percentile = Best)
• Median Credit Score (658)
• Credit-Card Debt-to-Income Ratio (7.23%) (7th Percentile)
• Mortgage Debt-to-Income Ratio (379.96%) (35th Percentile)
• Car-Loan Debt-to-Income Ratio (49.09%) (9th Percentile)
• Student-Loan Debt-to-Income Ratio (55.19%) (13th Percentile)
• Avg. Number of Late Payments (6.30)
• Avg. % of Credit Used (51.7%)
• Foreclosure Rate (0.0792%)

The full report can be found here.