Washington is the 8th most expensive US state for household bills
Aug 11, 2023, 6:55 AM | Updated: 8:25 am
Experts say 28% of your monthly income should go to household bills. (AP Photo/Jacquelyn Martin)
(AP Photo/Jacquelyn Martin)
The state of Washington is among the 10 most expensive U.S. states when it comes to the amount of money needed to pay household bills, according to a new report.
The doxoINSIGHTS report ranked Washington eighth most expensive in the nation, averaging $2,468 dollars per month — 20% above the national average.
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“As consumers navigate their household bills in today’s volatile marketplace, billpayers may feel left in the dark, not fully understanding how much they are truly paying each month,” said Liz Powell, Senior Director of INSIGHTS at Doxo.
Washingtonians spend 37% of their income on monthly bills. Experts said the goal should be 28%.
King and Snohomish Counties were the two most expensive in the state. King averages $2,988, while Snohomish is $2,698. Pierce is sixth with $2,460.
The study adds housing, auto loans, utilities, cable and internet together. The company “leverages its aggregate, anonymized bill pay data consisting of the actual bill payment activity for more than 8 million doxo users users to more than 120,000 household bill pay service providers,” according to a press release.
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Doxo, which monitors bill payment stats and activity, found that 73% of Americans say inflation is affecting their ability to pay bills, and 86% worry about the impact of inflation on their financial future.
The report showed that Hawaiians spend $3,070 each month on the ten-most common household bills, which is 50% above the national average. The least expensive state as far as household income is concerned is West Virginia, which requires $1,530 per month. That’s 25% below the national average.
