Mentor Ranked 17th Best Money Managers in Ohio

Managing one’s funds is one of the great struggles of the modern human condition, but Mentor residents are above-average in taking care of their finances compared to the rest of the country.

According to a recent study by WalletHub, Mentor residents are one of the better in the state at managing their finances. The city's residents rank at No. 306, and were in the 88th percentile of the study.

The rankings were based on based on credit scores, the debt-to-income ratios of credit cards, mortgages, car loans and student debt loans and the average number of late payments for residents of a given city. The methodology isn't perfect, but at least provides a superficial look at how people best manage their finances. If someone can avoiding debt and overdue credit card payments, chances are they know their way around a checkbook.

According to the data, Mentor residents have an average credit score of 710.03. Residents also had decent debt-to-income ratios on their debts, with average credit card ratios totaling 16.07 percent, mortgage ratios totaling 331.82 percent, car loan ratios totaling 35.78 percent and student loan ratios totaling 73.27 percent.

Mentor residents generally have just under two late payments to their name, with an average of 1.79 late payments on debt.

Mentor residents were ranked 17th among money managers in the Buckeye State, behind the likes of Hudson (No. 49), Avon Lake (No. 98) and Solon (No. 185).

Click here to view the study’s methodology. WalletHub collected data from TransUnion and Renwood RealtyTrac.