Charlotte Ranked The 5th Best City in America for “Spending Within Their Means”

Homes for Sale in Charlotte NC

Making ends meet

In these days with a fluctuating economy, it can be hard to make ends meet at times. It takes a lot of discipline to pay off your house mortgage, credit, utility bills and still have enough for your needs. Your lifestyle plays an important role, and having family, friends and neighbors who support your ‘downsized lifestyle’ is a must.

How would you like to live in one of top US cities which spend within their means? It could mean a lot, especially if you are trying to live comfortably but also want to ensure you are spending within your budget.

LendingTree just released their recent ranking of the top 50 metropolitan areas based on how their residents are spending within their means.  It used three metrics to score each metro – the average number of credit inquiries, use of revolving credit, and non-housing debt balances as a percentage of income and mortgage balances.

They found out that among the 50 metropolitan areas, many residents use their revolving credit lines, have mortgage balances averaging 79% of their annual income and with non-housing debt balances of around 44% of their annual income.

Good news for Carolina residents

Charlotte ranked 5th out of 500 cities where residents are more likely to be living within their means, averaging 3.8 credit card inquiries in the last two years. Only 28.2% of its residents use revolving credit utilization, with 43.2% residents having non-housing debt to income.

Greenville, SC scored the top rank among the cities, despite it being the second-lowest average income in all 50 cities ranked.  It averages at $65,503 per household.

Greensboro, NC residents are also successful in frugal living, obtaining the second best rank on the list.

Why move to Charlotte?

If you are already neck deep in debt and would like to enjoy a comfortable lifestyle and pay your mortgages and credit cards, you should consider moving into a city like Charlotte.

Think about it. Is moving to Charlotte NC a good choice? Movers are driven by economic opportunities and incentives. If so, then one the best places to resettle is none other than Charlotte.

Here are some good reasons why:

  1. It is the third largest financial center in the country with companies like AT&T, Bank of America, Microsoft, and Wells Fargo.
  2. NC  has the 5th largest industry workforce in the nation as it is home to internationally known companies including DuPont.
  3. The largest research park in the country and three Tier 1 research universities, as well as major biotechnology and pharmaceutical companies, can also be found in here.
  4. There is a low cost of living.

How does this translate for potential movers? Better investment opportunities, higher average incomes, and more employment opportunities, are just a few ways.

And if those things are not reasons enough, imagine enjoying beauty of nature that abounds in North Carolina – the crisp fresh air as you hike the Appalachian Trails or bike the trails of Rocky Knob Mountain Bike Park, the spectacular view of fall colors as you drive along the Blue Ridge Parkway, and the orange-hued sunrise viewed over the Atlantic Ocean from the beaches of Brunswick Islands.

Are you convinced yet? I am!

Looking for a new home in Charlotte? Call me, Nancy Braun, at (704) 997-3794. I’d be glad to assist with your real estate needs.

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