SALT LAKE CITY – As many states are still feeling the hangover of the recent recession, others seem to be shaking it off with a bit of retail therapy.
A new study recently published on WalletHub.com shows the states with the biggest spenders in 2014 and Utah is on the list.
The Federal Reserve’s “Beige Book” reported some good news in October; jobs are expanding, industries are growing and consumer spending is on the rise.
Utah ranked as No. 5 on the big spenders list in 2014.
Experts looked at various spending habits like household credit card debt, number of cars owned, amount spent on gas and utilities and other consumer goods.
States with the biggest spenders in 2014 – WalletHub.com
|
“Spending” Rank |
State |
“Spending” Rank |
State |
|
|---|---|---|---|---|
| 1 | Mississippi | 27 | Virginia | |
| 2 | Idaho | 28 | Ohio | |
| 3 | New Mexico | 29 | Wisconsin | |
| 4 | Alabama | 30 | Wyoming | |
| 5 | Utah | 31 | Nevada | |
| 6 | Missouri | 32 | Maine | |
| 7 | Indiana | 33 | Colorado | |
| 8 | Tennessee | 34 | Florida | |
| 9 | Montana | 35 | Washington | |
| 10 | Georgia | 36 | Vermont | |
| 11 | South Carolina | 37 | Oregon | |
| 12 | Kentucky | 38 | Minnesota | |
| 13 | North Carolina | 39 | Illinois | |
| 14 | Arkansas | 40 | Pennsylvania | |
| 15 | Michigan | 41 | New Hampshire | |
| 16 | Arizona | 42 | Alaska | |
| 17 | Oklahoma | 43 | Rhode Island | |
| 18 | Delaware | 44 | Hawaii | |
| 19 | Kansas | 45 | New Jersey | |
| 20 | Iowa | 46 | Connecticut | |
| 21 | Louisiana | 47 | Maryland | |
| 22 | Texas | 48 | California | |
| 23 | South Dakota | 49 | Massachusetts | |
| 24 | Nebraska | 50 | New York | |
| 25 | North Dakota | 51 | District of Columbia | |
| 26 | West Virginia |
