When it comes to managing money - do you live in one of Michigan's most financially savvy cities?

Photos via Canva
Photos via Canva
loading...

A variety of factors tend to allow residents of some Michigan cities to consistently maintain high credit scores, leading to lower costs on everything from their loan rates to insurance premiums.

👇👇 See the 25 Michigan Cities With the Highest Credit Scores Below! 👇👇

You may be wondering - which Michigan cities are getting this kind of preferential treatment based on their smart financial moves and top-tier credit scores? Well, WalletHub crunched the numbers for us. Let's dive in.

Why Certain Michigan Cities Have Strong Credit Scores

According to the Federal Trade Commission, a mix of factors like a solid job market, higher-than-average incomes, and a general focus on good financial habits tends to lead to higher credit scores.

SEE ALSO: The 25 Michigan Cities With the Worst Money Management Skills

Many of these cities are home to a well-educated population that understands the importance of managing their money wisely.

Great Economies and Education Go Hand-in-Hand

A lot of Michigan's cities with highest credit scores also have thriving local economies and universities that bring in educated professionals.

100.7 WITL logo
Get our free mobile app

Strong economies provide people with stable jobs, and when people feel more financially secure, they tend to be more responsible with their credit.

Suburbs Lead the Way

Several Michigan communities with the best credit scores are actually just outside the state's biggest cities. These more affluent suburban areas offer residents a higher standard of living, with great schools, solid job markets, and safe neighborhoods.

SEE ALSO: Revealed! This Is the Richest Woman in Michigan

The combination of good jobs and high property values means residents often have more financial flexibility, which in turn leads to better credit scores.

Let's take a look at Michigan's Top 25.

25 Michigan Cities With the Highest Credit Scores

WalletHub crunched the data - these are the 25 Michigan cities with the highest average credit scores.

Gallery Credit: JR

25 Michigan Cities With the Worst Money Management Skills

WalletHub crunched the data and has determined that these are the 25 Michigan cities with the worst money management skills. Is your city on this list?

Gallery Credit: JR

 

More From 100.7 WITL