PHOENIX — A financial-news site reported that Phoenix is the worst city in the country when it comes to saving money.
The Valley’s median rate of savings was zero, Interest.com said, meaning over 50 percent of households were in the hole. The average is minus $95.
The report said median-income homes should have nearly $700 a month left after bills were paid.
The numbers for “savings opportunity” were based on 2012 median incomes and expenditures from the Bureau of Labor Statistics.
“Many of us feel like we’re living paycheck-to-paycheck because of how we choose to spend our money,” Mike Sante, the site’s managing editor said in a press release. “It’s not that we can’t save. It’s that we don’t save. It’s something we can control and change.”
The best was Baltimore, which averaged a little over $2,000 in savings a month.
Also ranking low for savings were Detroit at $349 a month, San Diego ($344) and Boston ($240).
- The bride's guide to feeling your best on your wedding day
- Deciding when you need knee surgery
- Celebrating Fourth of July is much cooler in these AZ towns
- Top ten road trip bathrooms in America
- Six things causing a pain in your neck
- 5 things to make your summer move easier
- Three elements of a strong timeshare exit guarantee
- Stretches and exercises for carpal tunnel syndrome
- The best Major League ballparks have their own personality
- Comparing the best regular seasons: The '96 Bulls and '16 Warriors
- 3 Arizona road trips and the vehicles to get you there
- Colon cancer is preventable. Check these signs and symptoms to stay healthy.
- 6 of the biggest skin cancer myths
- Affordable small home makeover ideas
- Locals helping locals: 6 success stories you need to know about
- Sunscreen facts that could save your life
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Overlooked water tips to save you money
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy