In a revealing study by doxo on how Americans manage their finances, it turns out that the average U.S. household dedicates 34% of their income, summing up to $25,513 annually, just to cover essential bills. Diving into local specifics, households in Macomb, Illinois, appear to fare slightly better. They spend 15% less than the national monthly average, with expenditures amounting to $1,809.
It’s interesting to note that Monday is the most popular day for bill payments in Macomb, with the peak time being 8 a.m. Furthermore, debit cards are the preferred payment method among the locals. This study not only underscores the financial habits in Macomb but also sheds light on broader economic patterns across 227 towns and cities in Illinois.
Macomb residents are facing a hefty monthly expense, with an average total bill cost coming in at $1,809. Key components contributing to this total include mortgage payments averaging $959 and rent typically around $685. Automobile loans also make a significant dent, averaging $496 per month. Utility bills aren’t far behind, costing about $333 monthly.
When broken down further, residents spend an average of $204 on both auto insurance and cable & internet services, respectively, with mobile services costing similarly. More modest expenditures include health insurance at $102 monthly, and slightly lower, alarm and security services, and life insurance costing $91 and $88 respectively.
