The Web site Bundle.com is out with a comprehensive look at which cities and states accumulate the most debt, and the results might surprise you – especially if you live in Texas.
According to the Federal Reserve, the total amount of U.S. consumer debt is $2.5 trillion (as of the end of 2009). That’s about $8,100 for every man, woman and child in the U.S.
And, according to Bundle.com, the average U.S. household spent $37,782 last year, not counting mortgage or rent.
The breakdown (including housing expenses) goes like this:
- Shopping - 23%
- Gas and auto expenses – 14%
- Food and drink – 17.5%
- Travel & leisure – 7%
- Health & family expenses – 17%
- Mortgage or rent – 21%
But where do the biggest offenders reside? Surprisingly it’s not New York City or Los Angeles. The citizens of Austin, Texas, spent the most money last year according to Budle.com, averaging $67,076 in overall household expenses. Bundle estimates that number as being 77% higher than the national average in 2009.
The lowest-spending city – not surprising given its chart-toppng unemployment rate – is Detroit. Residents there only spent $16,446 on average in 2009.