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Report ranks Rochester's 'wallet wellness'

Rochester Business Journal
April 11, 2014

Among the nation’s largest 150 cities, Rochester ranks in the bottom half for its “wallet wellness,” a new report by WalletHub states.

The Best & Worst Cities for Wallet Wellness report ranked Rochester 81st—tied with Buffalo—in terms of the responsibility with which consumers manage both their finances and their lifestyles.
 
WalletHub—a social website launched by Evolution Finance offering tools and information for consumers and small business owners to make better financial decisions—analyzed eight key areas that look at finances, lifestyles and the extent to which local dynamics promote wealth creation and upward mobility.

Among the metrics analyzed, WalletHub looked at median household income, economic mobility, average commute time, credit scores and physical health.

Sioux Falls, S.D., ranked first on the list; Baton Rouge, La., ranked last. Buffalo ranked second among the 150 metro regions in terms of median household income/median house price.

WalletHub noted money, work and the economy are the leading causes of stress, costing employers $600 a day in lost work. Sleep deprivation—a common side effect of stress—amounts to $62 billion annually in lost productivity, it notes.

The full report can be found here.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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