Top 25 U.S. States With Most Generous Spenders In 2014
A recent study of all 50 U.S. states and the District of Columbia by WalletHub revealed that the state blowing the most cash in 2014 is Mississippi, while Idaho and New Mexico finished No. 2 and No. 3, respectively.
Apparently, the most frugal people live in Washington, New York, Massachusetts, and California.
Top Five States with Frugal Spenders In The United States
51. District of Columbia
50. New York
49. Massachusetts
48. California
47. Maryland
“Mississippi ranked highest due to a combination of spending more per capita than most other states on food, gas and health care, as well as ranking fifth in auto and credit card debt and third in percentage of population spending more than they make,” said Raz Daraban, a spokesperson for WalletHub.
The 2014 rankings are based on factors such as:
– How many in each state spend more than they make
– The average home size
– The average number of cars per household
– The average amount owed in card and automobile debt
– How much they have in their savings accounts.
– The average amount people spend on personal expenses: Food & Beverage (Non-Restaurant and Non-Bar Consumption), Gasoline & Other Energy-related Goods, Housing and Utilities, Health Care, and all Others.
Top 50 U.S. States And The District Cf Columbia With Most Generous Spenders In 2014
|
Spending Rank |
State |
|
Spending Rank |
State |
|---|---|---|---|---|
| 1 | Mississippi | 27 | Virginia | |
| 2 | Idaho | 28 | Ohio | |
| 3 | New Mexico | 29 | Wisconsin | |
| 4 | Alabama | 30 | Wyoming | |
| 5 | Utah | 31 | Nevada | |
| 6 | Missouri | 32 | Maine | |
| 7 | Indiana | 33 | Colorado | |
| 8 | Tennessee | 34 | Florida | |
| 9 | Montana | 35 | Washington | |
| 10 | Georgia | 36 | Vermont | |
| 11 | South Carolina | 37 | Oregon | |
| 12 | Kentucky | 38 | Minnesota | |
| 13 | North Carolina | 39 | Illinois | |
| 14 | Arkansas | 40 | Pennsylvania | |
| 15 | Michigan | 41 | New Hampshire | |
| 16 | Arizona | 42 | Alaska | |
| 17 | Oklahoma | 43 | Rhode Island | |
| 18 | Delaware | 44 | Hawaii | |
| 19 | Kansas | 45 | New Jersey | |
| 20 | Iowa | 46 | Connecticut | |
| 21 | Louisiana | 47 | Maryland | |
| 22 | Texas | 48 | California | |
| 23 | South Dakota | 49 | Massachusetts | |
| 24 | Nebraska | 50 | New York | |
| 25 | North Dakota | 51 | District of Columbia | |
| 26 | West Virginia |
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