TERRE HAUTE, Ind. (WTWO/WAWV) — A new study, conducted by coupon website Bravo Deal, reveals that Hoosiers are projected to spend 35% of their income on household bills by 2035.
According to Bravo Deal's research, this 35% of income spent on bills is equivalent to $30,639, nearly tripling the 2011 figure of $11,453, and almost doubling the 2023 figure of $18,597.
While the national average of income spent on bills in 2035 is expected to decrease to 29.7%, compared to the 30.4% Americans spent in 2023, Indiana's share of income is expected to be a 4.6% increase from the 2023 national average and 5.3% more than the projected national average in 2035.
According to the study, Indiana residents' 35% of income allocated to household bills, will be the fifth highest percentage in the nation by