This Lower Hudson Valley Town’s Residents Have 3rd Best Money Management in Nation

Are you good with money? One town in the Hudson Valley is better than almost every other one in the country when it comes to making wise money decisions.

There has been a push for years to have schools teach financial responsibility and it might not be a bad idea, especially in New York.

Debt in New York State

According to the State Comptroller, the amount of debt racked up by the average New Yorker has steadily been on the rise. At the end of 2021, the average New York resident had roughly $53,000 worth of debt.

Get our free mobile app

How do you spend your money? Do you splurge or are you frugal and only buy necessities? It hasn't been easy to save money over the last few years. With inflation and the cost of items going up, it has been extremely difficult for many families.

What Hudson Valley Residents Are the Best With Handling Money?

WalletHub compiled a list of cities whose residents are the best when it comes to making good financial decisions. Scarsdale, New York surprisingly made 3rd on the list.

How did they determine which cities made the list? They looked into things like credit scores, debt ratios, amount of late payments and even how many times they declared bankruptcy.

SEE ALSO: This Hudson Valley City Has the 6th Worst Commute in the Nation

Scarsdale, New York has a reputation for being one of the most affluent places in Westchester County. Residents there have money but they also know how to manage it well. The city of Bronxville also made the list which is a village also in Westchester County. There are several celebrities who live in or grew up in Westchester County.