Last month, we looked at states that have high average total household income. This month, we examine discretionary spending. Discretionary spending represents what a household likely spends on discretionary items after accounting for the fixed expenses of life (e.g., rent, utilities, public transportation, etc.).
Which states have the highest household-level discretionary spending? Which states have seen the largest percent growth in spending in the past three years? Let’s take a look. Then, contact us to better understand spending for households in your target markets and where you may have additional opportunity for growth.
Source: Discretionary Spending Dollars™
State-Level Outstanding Auto Finance Balances
The average outstanding auto finance balance for all U.S. households is about $5,074. Which states have households with the highest balances?
States with the highest outstanding auto finance balance per household
- Texas $7,811
- Louisiana $7,220
- Nevada $6,939
Source: CreditStyles® Pro
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