How is Jackson’s “Wallet Wellness?” Web site ranks 150 cities

April 2, 2014

Banking & Finance, Business

wh-2014-best-cities-for-wallet-wellnessJackson and many of its Deep South neighbors are ranked in the Bottom 10 of a “Wallet Wellness” survey compiled by WalletHub.

According to its website, there is a correlation between physical, emotional and financial well-being – what it calls “Wallet Wellness.” Wallet Wellness encapsulates the connection between physical, financial and emotional health, according to the press release.

Jackson ranked 148th of the 150 cities surveyed. Other cities in the Bottom 10 include Orlando and Hialeah, Fla., Knoxville, Tenn., Mobile and Birmingham, Ala., Cincinnati, Ohio, and Shreveport, New Orleans and Baton Rouge, La., which was last in the survey.

Sioux Falls, S.D., was first, but geography played a role in the rankings. Among the top 50 cities ranked, 49 were west of the Mississippi River, with Madison, Wis., the only city east of the river at No. 25.

In conducting its 2014 Best & Worst Cities for Wallet Wellness Report, WalletHub compared the nation’s 150 largest cities in terms of eight key metrics designed to gauge the responsibility with which people manage both their finances and their lifestyles as well as the extent to which local dynamics promote wealth creation and upward mobility.

Those metrics were median household income (adjusted for cost of living), median home price, rank in WalletHub’s job seekers report, economic mobility rank, average commute time, average credit score, well-being index, physical health.

In its methodology, stress — in terms of money, work and the economy — was one example cited on its web site. Stress, it said, forces a million people to miss work every day at an average daily cost of $600 to employers and an average annual cost of $15 billion to the economy. Then there’s the $62 billion in productivity that we lose annually to sleep deprivation – a common side effect of stress –and the $200-300 billion price tag associated with stress-related illness.

The complete list of top cities is 1. Sioux Falls, S.D., 2. Bakersfield, Calif., 3. Lincoln, Neb., 4. Corpus Christi, Texas, 5. Omaha, Neb., 6. Des Moines, Iowa, 7. Anchorage, Alaska, 8. Colorado Springs, Col., 9. Fort Worth, Texas, and 10. Aurora, Col.

 

 

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