REPORT: Needham Among Best Towns for Financial Management

NEEDHAM, MA — When it comes to financial management, Needham does a pretty good job, according to a new report.

According to a new ranking from WalletHub, Needham is 21st in the nation in money management. Cupertino, Calif. took the top spot and Lexington was the highest ranked Massachusetts town and non-California town at number five.

According to the report, Needham has an average credit score of 750.94, credit card debt to income ratio of 13.42 percent, mortgage debt to income ratio of 698.59 percent, car loan debt to income ratio of 23.45 percent, student loan debt to income ratio of 61,17 percent, and an average of 0.56 late payments.

The list was created by using TransUnion date from September 2015 to compare 2,570 American cities. Eight metrics were given a value between 0 and 100, before calculating the overall score for each city using weighted averages across all averages.

Click here to see the full list and methodology.