Budgeting is one of the most effective ways to be financially independent, and that starts with building strong budgeting habits, writes Adam McCann for WalletHub.
The source has released a new ranking of more than 2,800 counties that determines which have the best and worst budgeting habits based on 11 key metrics. They include the percentage of households without a bank account, credit card delinquency rate, and the share of households with zero net worth.
Philadelphia is far behind the collar counties.
Philadelphia ranks in the 7th percentile, with a total score of 44.31. Out of the 2,800 counties, Philadelphia ranked 2,626th and 2,588th in savings & financial assets and debt & delinquencies, respectively.
The closest would be Delaware County, which ranks in the 45th percentile with a total score of 61.24. It ranked 761st and 2,249th, respectively in the two aforementioned categories.
Further ahead is Montgomery County at the 84th percentile with a 68.82 total score, ranking 89th in savings & financial assets and 1,989th in debt & delinquencies.
Meanwhile, Bucks County and Chester County finished in the 92nd with a 71.18 total score and 93rd percentile with a 71.38 total score, respectively. Bucks ranked 47th and 1,679th in the two categories, respectively, while Chester ranked 57th and 1,562nd, respectively.
See the full list of the best and worst counties when it comes to budgeting at WalletHub.
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