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(EMAILWIRE.COM, June 10, 2013 ) Washington, DC -- When it comes to credit card balances, Kansas City tops the list across the nation. In at least this one category, the city is unfortunate to be No. 1, exposing its poor money handling.
The average Kansas City credit card average balance is currently $2,743.09, according to the data collected as of April 1 by the website Manilla.com. The website is a personal finance company which assists individuals with personal finance management.
Manilla based its finding of consumer data, and compiled the top 10 markets that have the highest credit card balances. San Diego was after Kansas City, with $2,667.75, while Baltimore was third with $2,451.53.
Consumer confidence rose as a whole in May. The confidence level reached a high that has not been seen in over six years. Experts have stated that the confidence boost was due primarily to the rising of the stock market. Since the crash of 2007 that saw stocks across the board plummet, and the subsequent “Great Recession”, confidence in the consumer sector have remained rather low. That persisted due to a lack of general trust that the small rises seen during that time would be sustained over a longer period of time.
Since 2012, however, not only as the general market come back to life, but the automakers and housing markets have come back to life. Both were hit heavily during the recession, and while neither is fully recovered, positive motion has been seen in both.
Thomas Reuters/University of Michigan preliminary index of consumer sentiment was seen to rise to 83.7%, which is the highest since July of 2007. It also is a seven-point rise from last month, which saw a 76.4% consumer confidence tally.
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Source: EmailWire.com
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