2015’s Cities with the Most & Least Efficient Spending on Education.

With taxes being top of mind, schools back in session and education topping state and local government spending at nearly $870 billion in 2012, the leading personal finance social network WalletHub conducted an in-depth analysis of 2015’s Cities with the Most & Least Efficient Spending on Education.

In order to gauge the return on educational investment for 90 of the most populated U.S. cities, WalletHub divided each city’s aggregated standardized test scores in reading and math for grades 4 and 8 by its total education spending per capita. We then normalized the data by four key socioeconomic indicators. 
 

 
Key Stats

• Education spending per capita is four times higher in Buffalo, N.Y., than in San Francisco.
   
• The poverty rate is six times higher in Detroit than in Fremont, Calif.
   
• The median household income is four times higher in Fremont, Calif., than in Cleveland.
   
• The percentage of children in single-parent families is five times higher in Cleveland than in Fremont, Calif.
   
• The percentage of households that do not speak English as their first language is 28 times higher in Santa Ana, Calif., than in Jackson, Miss.
   
• The average standardized test scores are four times better in Corpus Christi, Texas, than in Rochester, N.Y.

Wells Fargo Offers Free Credit Scores to Customers until Nov. 16

Offer promotes financial health and wellness as a third of Americans
are more worried about financial than physical health

PHOENIX, Oct. 8, 2014 – In an effort to help customers succeed financially, Wells Fargo (NYSE: WFC) is offering its customers their free consumer credit score and complimentary credit report through Nov. 16, 2014. For more information about this limited time promotion, visit https://www.wellsfargo.com/freecreditscore.

 “A recent Wells Fargo survey  said 27 percent of Americans are more worried about their financial health than their physical health,” Pam Conboy, lead region president for Wells Fargo in Arizona. “In much the same way an annual check-up helps us stay physically healthy, consumers can take control of their financial health by regularly checking their credit and taking steps to improve it.”

 About the Free Consumer Credit Score Program

From Oct. 1 – Nov. 16, 2014, all Wells Fargo customers can access their free consumer credit score and complimentary credit report by visiting a Wells Fargo banking store and obtaining a unique personal access code from a Wells Fargo banker.

 Since its inception in 2012, more than 800,000 customers and team members have taken advantage of the promotion and obtained their free consumer credit score and complimentary credit report. In its third year, the Wells Fargo’s Free Credit Score promotion coincides with the American Bankers Association’s Get Smart about Credit day, a national campaign of volunteer bankers who work with young people to raise awareness about the importance of using credit responsibly.

As part of the Get Smart about Credit program, Wells Fargo set a goal of reaching at least 60,000 people through volunteering in classrooms and community centers across the country to teach credit lessons.

 Tips for Credit Health and Wellness

A strong credit profile can help consumers qualify for lower interest rates. Yet, many people wait until they need a loan to think about their credit situation. Wells Fargo offers these tips to responsibly manage their credit:

1. Check your credit report annually. Make sure your credit report contains current and accurate information. Errors could negatively impact your credit score and even be a sign of possible identity theft. Request a free copy of your credit report at least once a year from www.AnnualCreditReport.com  or call toll-free 1-877-322-8228.
2. Pay your bills on time. Your payment history is one of the biggest factors in your credit score – including things that may surprise you like on-time payment of your rent and cell phone bill. Using free online tools, often available through your financial institution’s online banking, can help you develop a budget and create an automatic bill payment schedule.
3. Keep debt at no more than 35 percent of your gross monthly income. Lenders look at the amount of debt a consumer has compared to their monthly income when making credit decisions.
4. Understand how strong credit impacts your bottom line. Your credit score influences the interest rate you qualify for. The lower the interest rate, the less you’ll pay in interest over time. Many sites, including Wells Fargo, offer calculators that help consumers understand how interest rates impact their payment and the total cost of the loan.
5. Establish and maintain healthy credit – even if you don’t need a loan. Lenders aren’t the only people who use credit scores to make decisions – many insurance companies, cell phone providers and landlords do, too.

 Free Tools

Wells Fargo offers a variety of free tools to customers of all ages to help them take charge of their finances, including managing their credit responsibly. Helpful educational resources include:  

• My Financial Guide, which features articles and videos about money management.
• Hands on Banking^®, an interactive financial education program for all age groups (available in Spanish at www.elfuturoentusmanos.com).
• Budgeting Toolkit, a goal-oriented approach to managing your finances (available in Spanish at www.wellsfargo.com/paquetedepresupuesto).

 About Wells Fargo

In Arizona, Wells Fargo has 259 stores and 15,000 team members. Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.6 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. In 2013, the Company invested $275.5 million in grants to 18,500 nonprofits, and team members contributed more than 1.69 million volunteer hours around the country. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.