Daytona Beach, FL - A new study from a personal finance website finds that some Volusia cities are decent at money management, while others could use some work.
WalletHub recently dived into over 2,500 cities around the United States to find out how well their residents manage their money, leading to their study, 2020’s Best & Worst Cities at Money Management.
To find out exactly where each of those cities lie, WalletHub says their analysts took 2,572 U.S. cities and compared them based on 10 key metrics. After that, each metric was graded on a 100-point scale, with a score of 100 representing the best money-management skills and 0 being the worst. With that score, came the rankings. Jill Gonzalez, an analyst with WalletHub, spoke to News Daytona Beach and said that Volusia and Flagler's rankings were actually all over the place.
"You have places like New Smyrna Beach and Ormond Beach that are doing relatively well. Then you have places like Edgewater, Deltona and Daytona Beach that are not doing so well," said Gonzalez.
When you look at the data pertaining to the Volusia and Flagler County area you find that New Smyrna Beach came in at the top of both counties and 909th overall with a score of 65, putting it higher above the middle. Ormond Beach came in second in the county and 998th overall with 61 points.
Following behind Ormond was Port Orange at 1,030th overall with 60 points, Edgewater at 1,750th with 32 points (first city under 50 points), DeLand at 1,941st with 25 points, Palm Coast – the only Flagler city mentioned – at 2,030th with 21 points, Daytona Beach at 2,253rd with 12 points and Deltona at 2,371st with 8 points, the first local city with a single digit point.
The lowest Florida city mentioned on the list was North Lauderdale in Broward County, which came in at 2,537th overall with 1 point. The lowest city overall was Fairburn, Georgia, again at one point.
The highest cities included Cupertino and Los Altos in California and Scarsdale, New York.
