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Between 2018 and 2022, spending on nonessential items went up by 32% according toStorageCafe.
Right behind that category wasrecreational goods and vehicleswith a 59% increase.
On average, Americans spent $12,000 on discretionary items like food, hobbies and vacation costs.
This ended up consuming about 23% of the average consumers budget.
Though these are national statistics,not all statesare affected equally.
Heres a closer look at the states withthe best and worst financial well-being.
States With the Best Financial Well-Being
1.
Colorado
At the top of the list for stellar financial well-being was Colorado.
The states economy has made great strides over thepast five yearswith incomes rising by 23.7%.
Utah
There might be something behindski and snowboard culturethat lends itself to feeling financially fulfilled.
Utah was right behind Colorado on the list.
On average, those in Washington spent 24% of their money on nonessential items.
Theaverage household incomeis $131,504, with incomes rising 22.5% in the past five years.
Californians spend 24% of their budget on nonessential goods.
Florida
Households in Florida are able to dedicate a quarter of their budget to nonessential spending.
The growth in high-income earners has gone up 9%.
States With the Worst Financial Well-Being
1.
The states average household income is $72,624, which is also the lowest in the country.
Compare that with Colorado, which sees an average household income of $119,039.
Those in Arkansas see $8,466 inconsumer discretionary spendingper capita, which is the lowest in the country.
Thats compared with Colorado, which sees $15,860.
Oklahoma
Like Arkansas, Oklahoma didnt see a huge rise in income over the past few years.
Wages only went up by 15.5%.
High-income earners went up by 6%.
For consumer discretionary spending per capita, Oklahomans spent $8,950.
Compare that with Utah, where that number was $12,832.
Louisiana
For consumer discretionary spending per capita, those in Louisiana have $9,351, which isnt too bad.
However, incomes have only increased by 14.4%, which is the third lowest in the country.
The state only saw a 5% increase in high-wage earners, which is the lowest percentage seen nationwide.
West Virginia
West Virginia has thesecond lowest consumer discretionary spendingper capita in the country at $8,212.
Their average household income is also the second lowest at $75,265.
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