In what may be good news for retailers over the holidays and not so good news for those advocating frugality, Delaware ranks in the upper half of US states when it comes to “big spending.
The website Wallet Hub ranked the state 18th with 10 in measurements that included personal spending on various categories and included the number of cars per household, a drain on budgets.
The 18th place ranking of Delaware was unusual, since the state stood out from its neighbors who are far more frugal.
“As of June 30 this year, consumer debt stood at $11.63 trillion, higher than it was at the same time in the previous three years, according to the Federal Reserve Bank of New York. Are Americans at risk of becoming financially overextended again,” Wallet Hub asked.
By contrast, Maryland ranked 47th, Pennsylvania, 40th and New Jersey at No. 4. . When the figures were adjusted for the cost of living, Delaware rose to No. 9, with New Jersey 12th and Pennsylvania 24th
Spending categories ranged from gasoline to restaurants, health care and credit cards. Delaware health care costs are well above those of the nation as a whole. The state is a national center for credit cards.
States with the biggest spenders often had low average incomes, with Mississippi ranking first, followed by Idaho and New Mexico. Alaska, Rhode Island and Hawaii had the most frugal consumers.
