WACO, Texas (KXXV) — A new report from WalletHub shows financial stress is hitting home for many Texans, with 4 of the top 10 most financially distressed cities in the country located in the state.
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Houston, Dallas, San Antonio, and Austin all rank among the most financially distressed cities in the U.S., according to the WalletHub study, which examined financial factors across 100 cities in America, including credit scores and bankruptcy filings.
For many younger Texans, high rent, credit card debt, and daily expenses can make it hard to save or get ahead financially.
I spoke with Kim, an employee at Central Texas Marketplace in Waco, who said that while she is more financially stable now, she sees struggle ahead for the next generation.
"Aren't we all in financial stress?" Kim said.
Kim said her own family reflects the broader challenge facing younger Texans.
"My daughter pays like $1,700 a month in rent, so I don't see them ever being able to be financially stable enough to buy a home," Kim said.
Experts say to steer clear of financial distress, people should create a budget, cut non-essential spending, and work with creditors on payment plans to help get debt under control.
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