New York's Consumers Rank Among Nation's Most Frugal

WESTCHESTER COUNTY, N.Y. -- New York State residents were ranked the second lowest spenders after income and cost of living adjustments in a recent survey by finance social network WalletHub.

New York was ranked the second most frugal state in a ranking by WalletHub.
Photo Credit: *WalletHub*

Joe Jenkins

11/27/2014 4:30 p.m.

In order to find the biggest spenders in the U.S., WalletHub analyzed the 50 states and the District of Columbia across 10 weighted metrics:

Personal expenditures on restaurant or bar food and beverage
Personal expenditures on gasoline and other energy
Personal expenditures on housing
Personal expenditures on health care
All other personal expenditures
Auto & Credit Card Debt
Annual Consumer Savings Account Averages
Number of Cars per Household
Percentage of the Population Spending More than They Make

New York ranked 50th, just ahead of Washington, D.C.

The Empire State ranked 50th out of 51 in Gas expenditure and number of cars per household. It also ranked 49th in food and beverage expenditure.

Neighboring Connecticut was ranked 46th overall.

The five biggest spenders in the nation were Mississippi, Idaho, New Mexico, Alabama and Utah, in that order.

Click here to read the full report.

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