The season of excess when it comes to consumerism is now -- today is Cyber Monday, after all. So it’s interesting to note that New Jersey -- for all its excesses -- isn’t quite so excessive when it comes to consumer spending.
Wallethub, an online financial website, ranked the 50 states and the District of Columbia in terms of personal spending, including metrics such as credit-card debt, number of cars, home size, and whether residents spent more than they earned. It then adjusted the rankings in terms of cost of living and income.
New Jersey came up 45th. Before adjustment due to cost of living and income, New Jersey ranked 12th.
New Jersey was singled out as among the lowest spending on healthcare (48th) and number of cars per household (47th). Indeed, spending on cars seemed to be a key factor in the rankings, since the states with mass transit that allows people to own fewer cars performed well in the rankings: New York, New Jersey, the District of Columbia, and Massachusetts all were at the bottom of both the auto ownership and full rankings.