Looking To Fall Into Debt? Move to East Lansing
The headline may seem snide, but, it's actually understandable how East Lansing can be noted as the sixth-worst city in the country when it comes to money management. WLNS.com reported on the story Tuesday night, citing a report from WalletHub who studied nearly 2,600 U.S. cities, looking for the best and worst in terms of money management.
So, why is this not surprising? East Lansing is a college town, much like the others in the bottom 10 of the list. It appears that the main factors are credit card debt to income ratio where East Lansing ranks 2566, or fifth worst in the country, and student loan debt to income ratio where East Lansing ranks dead last.
And, let's face it...young adults aren't exactly known for saving their pennies. Especially when it seems that every national restaurant chain has opened up along Grand River Avenue, overcharging for the latest, hippest lettuce wrap or bubble tea. And, East Lansing bars...ahem...restaurants (to appease city leaders) take an arm and a leg for a drink, let alone eight.
Check out this interactive map put together by WalletHub to see where the best and worst capitalists reside.