We love it when surveys break rankings down by U.S. cities. That’s how we communicate. It’s a good way to compartmentalize what we think is true about the places we live and love, and an even better way to contextualize what we think about the places we hate.
So we all owe CardHub.com a great debt of gratitude. Seriously.
“The economic struggles we’ve endured in recent years have placed considerable emphasis on both the importance of budgeting and our overall inability (or unwillingness) to do so,” CardHub.com said in its introduction. “More than half of all consumers do not maintain a budget,” according to the National Foundation for Credit Counseling.
And roughly 22% say they don’t even have a good idea of what they spend on things like housing, food, and entertainment.
This writer’s hometown, Boston, ranked first. Check out the rest of the rankings. At first glance, there’s no rhyme or reason as to what they mean, but it’s clear they’ve done the legwork.
CardHub.com also gave some budgeting tips. They recommend you feed an emergency fund, setting aside a little every month “with the ultimate goal of having about a year’s after-tax income in reserve in case of an extended income disruption.”
They also recommend ranking your expenses and costs, separating your debt from everyday expenses, and — a big one, here —eliminate temptation.