Residents of Larimer County are ranked as having the lowest credit card debts in the state of Colorado as of this year.
According to a recent study done by SmartAsset, a financial technology company from New York, residents of Larimer county scored a five for state ranking for credit card debt among other Colorado counties such as Jefferson, Douglas, and Boulder. Nationally, Larimer County ranks 870 for credit card debt.
SmartAsset’s study calculated debt from credit cards as both a percentage of income in addition to net wealth in counties spanning all over the United States in an attempt to locate areas where people are in control of their plastic money the most.
The study reports that Larimer County residents have an average income of $34,087 and a net wealth of $36,201. The study shows that Larimer County residents hold an average credit card debt of $3,407, putting them at a score of 84.50 on the lowest credit card debt index.
For more information concerning SmartAsset and how they determine credit card debt as well as a look at how the top counties in Colorado performed and a national ranking, please visit their website at https://smartasset.com/credit-cards/credit-card-calculator#Colorado.