The numbers don't look good. To find debt relief, you may have to pack up and move where the jobs are. (Photo: flickr.com)

If consumers are looking for debt relief, one way to speed up the process is to go to cities heavily focused on creating jobs. According to MarketWatch’s annual survey of where businesses tend to settle and create employment, there are some cities that are far above the rest in job possibilities. The following is a list of the top three locations to visit.

Minneapolis-St. Paul, Minnesota

The Twin Cities have over 10 private and public firms that have totaled over $10 billion in sales. Throughout the recession, both cities have remained strong in commerce and the unemployment rate has remained consistently low. In addition, the Twin Cities have proven to be small-business friendly by earning a top ranking among all metro areas in that grouping.

So why are jobs so plentiful in the area? Douglas Baker, chairman and CEO at Ecolab based in St. Paul stated, “Why is it hard to get people here? Because they expect snow to be blowing in July.” Tom Valerius, VP of recruitment for United Health Group agreed, adding, “You sell them on the job, and then you sell them on the Twin Cities. At the end of the day, the big sell is directed toward the spouse more than the executive.”

The Twin Cities are home to 3M Co., General Mills, Travelers Cos, Bancorp, Medtronic, St. Jude Medical, Target and Best Buy. Andy Bessette, Traveler’s COO, stated, “It’s a very educated workforce. The people here, the school systems, are very good.” For consumers looking for jobs, the Twin Cities are a great place to start. Their large business force makes them relatively impervious to economic fluctuations.

Boston, Massachusetts

Another new entrant to MarketWatch’s survey is Boston. The city has moved up in rankings due to a heavy “concentration of Fortune 1000 and S&P 500 companies.” In addition, Boston remained stable in population growth. Like the Twin Cities, Boston benefits from citizens who have been educated in the city’s wide variety of higher-learning facilities, including Harvard University, Boston University and Massachusetts Institute of Technology.

They also have a wide variety of job openings due to a diversity of companies focused in health care, finance, technology, tourism and education. Tim Sweeney, director of public policy at the Greater Boston Chamber of Commerce, stated, “It really is the skilled workforce that drives these industries. Having that balance has really helped us to sustain the economy.” When consumers in other states are looking for ways to find debt relief, pay bills and handle expenses, Boston’s citizens are somewhat unhampered by the failing economy. A recent poll by the Chamber of Commerce showed that its residents have made small changes to their budgets, but overall have remained fairly stable as the recession has played out.

Denver, Colorado

Finally, the MarketWatch survey showed that Denver, Colorado is another city that has a wide variety of jobs for the unemployed. First Data Corp, building-materials company Pro Build Holds and MWH, a resource manager, are three large privately-held firms that are creating jobs for the population. Although the recession did affect the economy, jobs were mainly stable. As Harold Raminski, stated, “We didn’t have to resort to lay-offs or huge restructurings. We did some quick cut-backs of supplies and were able to rebound…We maintained the same level of hiring also.”

Going Where the Jobs Are

Many consumers are unemployed and having a hard time managing their finances. One of the ways to help the problem is to consider relocating to cities where jobs are plentiful. In particular, it’s the cities where the industries are widely varied that offer the best job possibilities and seem to be the most stable as the economy fluctuates. For people in need of debt relief, relocating may be a viable solution worth exploring.

A membership at a warehouse store can save money. Image from Flickr.

Consumers are still searching hard for debt relief in today’s economy. Although there are some signs that the recession is coming to an end, many people are still wary of returning to old spending habits and are looking for ways to cut back. Many normal daily activities were put on hold or cut out of budgets in an effort to increase income. But there are some things that cannot be put off and are actually worth their cost in the long run. Here are some things you shouldn’t cut out of your budget:

• Having a furnace checkup annually is not something to scrimp on. Many consumers have put off household fixes, but this is one that shouldn’t be put off. In the end the cost of the checkup will pay for itself with lower utility bills. In addition, faulty equipment can cause fires or create fumes that are toxic to families. It’s also a great way to avoid emergency fixes if consumers periodically have their furnace checked. A good tech can avert bigger problems down the road.
• Hiring a professional to draw up a will is another expense that needs to occur. Regardless of the economy, some things need to be settled. Consumers’ after-life wishes are one of them. People can find lawyers who charge reasonable fees to settle complex estates and the fee will be well short of an expensive legal battle later on. A good lawyer can spell out exactly what your wishes are and create a rock-solid plan that will stand up to any probate court, beneficiaries or those who are left out of the planning.
• Another added expense that is worth it in the end is joining a warehouse club. Warehouse clubs can provide great money-saving deals on staple items. Eggs, butter, milk, cheese, pop and bread can all be purchased at notable discounts. Also, larger items like furniture and electronics normally come with even bigger savings. The average warehouse club strives for margins of 11 to 15 percent, as opposed to supermarkets, where they need a margin of 25 to 30 percent to survive. These are great places to find some debt relief because most consumers shop on a weekly basis, and cutting back on each trip can add up to big savings. The only caveat here is to purchase wisely. Consumers need to buy only what they will use. Throwing food away isn’t saving anything.
• Renter’s insurance is another positive expense. Consumers need to be aware of the unknown and if disaster strikes, a renter’s insurance policy can save them from having to replace everything. Fire, flood or other disasters can happen and protecting themselves with a $150-$250 a year policy is the best way for consumers to prepare.

These are all items that are worth the cost in the end and consumers shouldn’t be quick to cut them out of their budgets.

Saving money

Although in today’s tough recession everyone wants to save money, there are some items that should be looked at as necessities. Consumers need to find debt relief in other areas, while still protecting themselves from disasters. One of the best ways is to realistically think about an expense. If the savings in the long run outweighs the expense to maintain the item now, then they should include the expense in their budgets.