The Cities With the Best and Worst Budgeters in America

Does where you live impact how well you manage money? A new survey from WalletHub looked at various criteria, including average credit score, foreclosure rates and non-mortgage debt as a percentage of income to rank which cities have the biggest spenders and the most extreme penny-pinchers. Plus, such high-cost cities as San Francisco and New York, ranked at No. 8 and No. 20, respectively, in the list of 150 cities. TheStreet's Scott Gamm talks with Jill Gonzalez of WalletHub to discuss the survey and budgeting tips for consumers, especially as Americans are still grappling with unemployment and stagnant wages.