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Philly's Terrible at Saving Money: Study

By Jared Shelly | Philadelphia Business Journal
|  Monday, Feb 24, 2014  |  Updated 11:24 AM EDT
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Philly's Terrible at Saving Money: Study

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Here's another dubious distinction for Philadelphia: It's one of the worst cities for saving money.

In fact, Philadelphia ranked No. 92 on GOBankingRates’ list of the best and worst cities for saving money.

GOBankingRates, a personal finance website, cited Philadelphia's low average savings account yield and high median home price as the culprits. Let's let them tell the details:

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The study looked at several factors among America’s 100 biggest cities, including sales tax, unemployment rate, median household income, median home price and average savings account rate, which were then scored and ranked according to the GOBankingRates indicator from best to worst cities for saving. Read more about this story on PBJ.com.

For more breaking business news go to PBJ.com

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