Monday, May 29, 2023
Hawai'i Free Press

Current Articles | Archives

Monday, November 20, 2017
Honolulu 3rd-Worst City to Live In When You’re Struggling to Pay Off Debt
By Selected News Articles @ 5:32 PM :: 4600 Views :: Hawaii Statistics, Cost of Living

20 Worst Cities to Live In When You’re Struggling to Pay Off Debt

by Elyssa Kirkham,, November 7, 2017

If you’re struggling to keep up with debt payments or pay extra to get rid of debt faster, where you live might be to blame. It can be harder to pay off debt when you live in a high-cost city because more of your income must be used to cover basic expenses.

Our new rankings of major U.S. cities reveal the 20 worst cities to live in if you’re trying to pay off debt.

In these cities, residents face some of the highest living costs in the nation. After paying for the basics, residents who live and work in these cities have less disposable income they can use to pay off debt or pay extra on loans or credit card balances.

See if your location made the list of the 20 worst cities to live in and get out of debt.

Identifying the worst cities to live in when you want to pay off debt

If your goal is to get out of debt as fast as possible, it takes some extra cash. On top of keeping up with minimum payments, you’ll need to pay extra on at least one account per month.

How much extra you can pay depends on your disposable income — or how much money you have left over after paying income taxes and covering basic living expenses. In our study, we wanted to find the cities where residents have the least disposable income to put toward their debt.

We surveyed the following data points for 159 major U.S. cities:

  • Average annual wages
  • The federal, payroll, state, and local income tax burden for that city and income level
  • The cost of basic living expenses adjusted for the local cost of living

Based on those factors, we calculated the average annual disposable income of a single worker living in each city.

We also cited the following data points to help inform the rankings:

  • The average VantageScore in each city, sourced from Experian in its 2016 State of Credit report. A higher average credit score shows that locals find it easier to stay current on their debt and repay responsibly.
  • The local unemployment rates, reported by the Bureau of Labor Statistics. A low unemployment rate indicates a healthy jobs market and a high demand for workers.

Note that those two factors didn’t affect the city rankings but were included for illustrative purposes.

Here are the top 20 cities with the lowest disposable incomes for working residents.

20 worst cities to live in when you want to get out of debt….

3. Honolulu, Hawaii
  • Average disposable income: $372
  • Average annual wage: $51,080
  • Average income tax burden: $12,901
  • Cost of living is 86 percent above national average
  • Unemployment rate: 2.3 percent
  • Average credit score: 691

read … Full Report


TEXT "follow HawaiiFreePress" to 40404

Register to Vote


808 Silent Majority

Aloha Pregnancy Care Center


Antonio Gramsci Reading List

A Place for Women in Waipio

Back da Blue Hawaii

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii


Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together



Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Malulani Foundation

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport


OHA Lies

Opt Out Today

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Pritchett Cartoons

Pro-GMO Hawaii


Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii