Inflation, High Gas Prices & What the Average Household Earns — An Interesting Study

Doxo is a bill paying platform. The company is — naturally — very interested in income and outgo for families and individuals. It recently did an in-depth study of the cost of living in the United States.

The good news is the cost of living is far below the cost of living in other developed countries. However, living expenses in the U.S. exceed that of most countries on Earth. So it’s a double-edged sword.

The company’s study defines bills and living expenses as rent or house payments, auto loans, auto insurance and driving, utilities, cable, the Internet, smartphones and health insurance. To no one’s surprise, Doxo found states with higher average monthly incomes tend to have higher monthly bills.

Those with lower incomes have lower costs.

Doxo said the U.S. Census Bureau’s American Community Survey has the average cost of paying bills in the U.S. as $2,003 a month. The average income of a typical household is about $64,994 a year. Those are averages. Some states are way above and some way below.

The most expensive state in the union to live in is Hawaii. The least expensive state is West Virginia. TOP-10

1. Hawaii

Average monthly household bills: $2,911 Median household income: $83,173 Average bill total as a share of household income: 42.0%

2. California

Average monthly household bills: $2,649 Median household income: $78,672 Average bill total as a share of household income: 40.4%

3. New Jersey 4. Massachusetts 5. Maryland 6. Connecticut 7. New York 8. Alaska 9. Washington 10. New Hampshire

Where does Nebraska and Iowa stand?

32. Iowa

Average monthly household bills: $ 1,784 Median household income: $ 61,836 Average bill total as a share of household income: 34.6%

41. Nebraska

Average monthly household bills: $ 1,696 Median household income: $ 63,015 Average bill total as a share of household income: 32.3%

Source: Norfolk Daily News

AmGUARD • EastGUARD • NorGUARD • WestGUARD

Workers’ Compensation

We distinguish our Workers’ Compensation coverage by providing value-added services before, during, and after a claim.

Upfront loss control measures Responsive claims handling Facilitation of quality medical care (when an accident does occur)

We’ve been successfully protecting our policyholders and their employees since 1983.

Browse all of our products at www.guard.com.