Wednesday, December 5, 2018

Study: San Antonio's Huffing on the Treadmill When It Comes to 'Wallet Fitness'

Posted By on Wed, Dec 5, 2018 at 1:40 PM

click to enlarge ARTEM BALI
  • Artem Bali
San Antonio's landed on plenty of lists suggesting we're not exactly the most physically fit city. Now, adding insult to injury, a new study's telling us we're also slobs when it comes to "wallet fitness."

Sheesh. It'd be nice if we could catch a break.

Here's the deal — the new study by financial site WalletHub ranked 182 U.S. cities by how well their residents are positioned for financial success, and the Alamo City fell in at a dismal 152. (Watch out, Toledo, Ohio! We're nipping at your heels!)

That showing puts us behind Austin (27th), Dallas (124th) and Houston (139th), and way, way behind the list's top three cities — Fremont, Calif.; Seattle and San Francisco (in that order).

WalletHub compared the metros using factors such as median credit score, percentage of households behind on bills, percentage of families with emergency savings and non-mortgage debt per person.

On one level, the data suggests the Alamo City has a way to go before it can claim to be fiscally fit. But it also highlights just how tough it is for residents of a largely low-income city (our 2016 median income of $56,105 was below the national and state average) to get on the right track.

Sure, it's great to sock away money, polish up your credit score and whittle away at your debt, but that's easier said than done for families living on the financial margins.

Until San Antonio can fix some of the longstanding systematic problems that keep so many of us poor, our city may be stuck in the back of the workout class — sweating, puffing and struggling to keep up.

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