San Jose Knows The Way To Save, Study Suggests

The country’s best savers are in San Jose, Calif., although people in the Northeast generally doing a better job of saving than do Americans elsewhere, a broker dealer’s study concludes.[@@]

The study of consumer and economic data by A.G. Edwards & Sons Inc., St. Louis, resulted in what the company calls a Nest Egg Index of the 200 top-saving urban areas and 50 states.

Edwards ranked communities on residents’ personal saving and investing patterns, first mortgages and debt, based on data compiled by Claritas Inc., San Diego, a marketing information firm, and the Council for Community and Economic Research, Arlington, Va.

After San Jose, the top-ranked communities were:

?Nassau-Suffolk counties, N.Y.;

?Middlesex-Somerset-Hunterdon counties, N.J.;

?San Francisco;

?Bergen-Passaic counties, N.J.