With the biggest shopping event of the year just a few days away, America’s addiction to debt and spending continues to be a problem.
However, a new report, the 2014’s States with the Biggest Spenders by WalletHub, reveals Hawaii’s consumers are considerably more frugal than the nation’s average.
The report, which ranked Hawaii consumers as the 8th most frugal, reviewed 10 key metrics such as personal spending cars per household, and auto and credit card debt.
Hawaii residents spent the least amount of money on gasoline, healthcare, and all other goods, and have among the smallest homes in the nation.
Hawaii also ranked low for auto and credit card debt as well as savings.
Spending in Hawaii (1=Biggest; 25=Avg.)
- 43rd – Personal Expenditure on Food & Beverages
- 51st – Personal Expenditure on Gasoline & Other Energy Goods
- 26th – Personal Expenditure on Housing & Utilities
- 51st – Personal Expenditure on Health Care
- 51st – Personal Expenditure on All Other Consumption
- 33rd – Number of Cars per Household
- 49th – Auto & Credit Card Debt
- 47th – Annual Consumer Savings Account Averages
- 50th – Average Home Square Footage
Note: Spending, savings and debt figures are adjusted by income and cost of living.
See the full report here.