Desoto County NewsMississippi News

State among least expensive for living expenses

Some good news for your pocketbook about living in Mississippi comes from a study released by the online bill payment service Doxo and published on the website, Insider.  

According to the report, Hawaii is the most expensive state for living expenses, with Hawaii residents paying an average 50 percent above the national average.  

At the same time, Mississippi is next to the bottom in the rankings, just a notch above West Virginia as the state that pays the least for living expenses.  

Mississippians pay approximately $1,616 per month, a figure that reflects the 10 most common bills paid, including housing (rent/mortgage), or 41 percent of monthly household income. West Virginia residents pay an average of $1,530 per month, or 38 percent of monthly household income. 

Conversely, Hawaii residents pay $3,070 a month for living expenses, or 43 percent of the  homeland monthly income. The figure is 50 percent above the national average of $2,046 paid each month.  California is second ($2,838), followed by New Jersey ($2,737), Massachusetts ($2,656), and Maryland ($2,569).  

After West Virginia and Mississippi, Arkansans average $1,635 a month, followed by Oklahoma ($1,705), and Kentucky ($1,710).  

As a country, Americans spend $3.22 trillion annually on the 10 most common household bills, which include mortgage or rent, automobile loan, utilities, auto insurance, health insurance, cable and internet, alarm and security, and life insurance.  

You can review more details about the report and the state breakdown information at the Doxo website.