Burlington Residents Among America's Best Money Managers

By JOE LIPOVICH (Patch Staff)

BURLINGTON, MA - Managing one’s funds is one of the great struggles of the modern human condition, but Burlington residents have seemingly mastered that struggle better than much of the country.

A recent WalletHub study found Burlington residents to be among some of the best in the country at managing their finances. Burlington residents rank 191st among American communities based on credit scores; the debt-to-income ratios of credit cards, mortgages, car loans and student debt loans; as well as the average number of late payments.

According to the data, Burlington residents have an average credit score of 727.65. Residents also had excellent debt-to-income ratios on their debts, with average credit card ratios totaling 11.97 percent, mortgage ratios totaling 519.99 percent, car loan ratios totaling 29.09 percent and student loan ratios totaling 72.27 percent. Burlington residents also have an average of 1.79 late payments.

Right next door, Lexington residents were ranked as the best money managers in the state, followed by Winchester, Belmont, Arlington and Needham. Lexington was ranked just below the California cities of Cupertino, Saratoga, Laguna Woods and Los Altos. All of these communities ranked in the 99th percentile in the country.

Click here to view the study’s methodology. WalletHub collected data from TransUnion and Renwood RealtyTrac.