Can You Avoid Debt Consolidation By Changing Your Zip Code? |

Does the city in which you live determine whether your future is one filled with debt consolidation or one marked by wealth accumulation? It might. After all, if you live in a city that features a high rate of job growth, low unemployment levels, affordable housing prices and reasonable costs on other necessities such as gas and rent, the odds are lower that you’ll run into the kind of financial troubles that you’d find if you lived in a city that had high unemployment rates, unaffordable housing and little to no job growth. Keeping that in mind, house hunters might take a look at the Web site for Kiplinger’s magazine. The site boasts the magazine’s annual list of top cities in which to live. The list might serve as a good guide for consumers looking to avoid debt consolidation, foreclosure, bankruptcy and other financial nightmares.

Austin Tops the List

Kiplinger’s ranked Austin, Texas, as the top city for the next decade. The magazine pointed to the city’s vibrant small business community, not to mention the many venture capital funds in the area that provide financial backing to entrepreneurs and their ideas. The city is also known as a fun place to live, thanks to its many musical festivals, its eclectic mix of restaurants and shops and its many entertainment options. Of course, you don’t have to move to Texas if you want to live in a top city for the next decade. Kiplinger’s also has good things to say about Seattle, which it cites for its well-educated workforce, top universities and the headquarters of such corporate giants as Microsoft, Boeing and Amazon. Running out the top five were Washington D.C., which boasts 11 of the 25 richest counties in the United States; Boulder, Colorado, home to federal research laboratories; and Salt Lake City, Utah, with its low taxes and cost of living.

The Next Five

Rochester, Minnesota; Des Moines, Iowa; Burlington, Vermont; West Hartford, Connecticut; and Topeka, Kansas complete Kiplinger’s list of top cities for the next decade. It’s a nice list, showcasing cities from a wide swath of the country. Of course, even if you live in Austin, Texas, there’s no guarantee that you won’t need debt consolidation loans in the future. Sure, your job prospects may be brighter. Your chances of landing a higher-paying job might be stronger.

But even so, that innovative start-up company at which you work may still go out of business. Your boss may slash your annual income to avoid future layoffs. No city, even those ranked highly by respected glossy magazines, are safe from the effects of today’s challenging economy. Still, if you have your choice, it’s not a bad idea to take root in one of these thriving metropolises. It’s one thing you can do to reduce your chances of needing a debt consolidation loan in the future.