Survey: Gillette ranks low in money management

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GILLETTE, Wyo.— Gillette may not be the absolute worst when it comes to money management, but we’re by no means the best nationally or statewide, according to a recent national financial survey from WalletHub.

Residents in Gillette reported credit scores, debt-to-income ratios, and a number of late payments made each year averaging 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-to-income ratios that earned the community an overall rank of 1,823 out of a total of 2,572 cities surveyed across the United States.

Debt-to-income was split into multiple categories: mortgage, student loan, credit card debt, and vehicle loans. The ratio for mortgages came in at 328.26 percent, student loans at 31.85 percent, credit card debt at 4.76 percent, and vehicle loans at 42.20 percent.

The survey also included reports from Casper and Cheyenne; out of the three, Gillette was at the 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 came in at 419.45 percent, student loans at 37.54 percent, credit card debt at 4.84 percent, and vehicle loans at 39.85 percent, the survey reported.

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 reported at 334.31 percent, student loans at 42.88 percent, credit card debt at 4.85 percent, and vehicle loans at 41.63 percent.

For comparison, the city that came in at the top of the list was Scarsdale of 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 in at the bottom was Willis, Texas, which reported a median credit score of 676 and an average of 4.6 late payments per year.