As the holiday season approaches, many consumers in Florida and throughout the nation will use their credit cards to shop.
To help show where people have been most responsible with their credit cards, SmartAsset has released its second annual study on places with the least credit card debt.
The firm calculated the ratio of credit card debt to per capita income for every county. This number can indicate whether or not people will be able to pay off that debt. It also calculated the ratio of credit card debt to net wealth per capita for each county. This gives a broader picture of an area’s financial stability. In addition, SmartAsset indexed each factor and calculated an overall index by taking a weighted average of each of these indices. The credit-card-to-income index was given a weight of one and the credit-card-to-net-wealth index was given a weight of two.
In the table below, you can compare how the top 10 counties stacked up in Florida, including Central Florida's Lake County. Sumter, which ranked No. 1 in Florida, was No. 8 in the nation for its residents being responsible with their credit cards. Central Florida's other counties ranked as follows in the state:
No. 1 in the nation was Wabash, Ill., with credit card debt at 4.6 percent of income and credit card debt at 4.1 percent of wealth.
You can find more details, including an interactive map, here. Click on the county of your choice to learn more.
Also, go here to see how much people in Orlando and throughout the state plan to spend on gifts, food and more this holiday season. Meanwhile, if you're looking to earn some extra cash, here are the 8 most in-demand jobs this holiday season.
Central Florida shops, restaurants, hotels and attractions typically see a large boost in business at this time of year. In fact, area theme park companies typically plan special holiday events to draw more business, and locally based restaurants, such as Red Lobster, plan special holiday menus.