Monday, May 27, 2024

Report: Bossier City households now spend 39% of income on bills

by BIZ Magazine

A new study has found that 2023 household spend for Bossier City residents totals $1,738/month.

The 2023 U.S. Bill Pay Market Size & Category Breakout Report by doxo, a personal finance and bill payment tech company.

The average Bossier City household pays $1,738 a month, or $20,853 a year for the 10 most common household bills.
Bossier City households spend 39% of their income on household bills.

The household expenses in Bossier City, on average, are 17.8% lower than the national average of $2,046, and 9.7% lower than the state average of $1,906.

Bossier City is the No. 35 most expensive city in Louisiana for household bills.

The data, which doxo has for Bossier City as well as 4,000 cities across the United States, looks at total amount spent on bills per month, and also breaks down bill payments into ten different categories, including utilities, auto loans, cable bills, and more. See below for the specific breakdown by bill pay category in Bossier City; click the button for a detailed infographic view.

The report revealing that of the $3.87 trillion that Americans spend annually on household bills, $3.22 trillion falls within ten essential bill payment categories, comprising nearly three quarters of all U.S. consumer spending. In this report, statistical analysis of actual household payments was used to size the market across more than 97% of U.S. zip codes.

The report found that the average U.S. household spends $24,557 per year on the ten most common household bills. It also breaks out the household spending market size for each bill category, the average amount paid per household per month, the percentage of households that pay each bill, and average bill pay costs by state.

You can read more here: https://www.doxo.com/insights/2023-u-s-household-bill-pay-market-size-category-breakout/

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