Utahns are a frugal lot, but that's because they, on average, don't make a lot of money.
An analysis by 24/7 Wall Street finds Utah ranks #6 on the list of "fewest big spenders."
Why?
Utahns have the 5th lowest personal income per capita in the nation, mostly because of the state's relatively young population, but that didn't stop residents from spending 85% of their income.
Utah
> 2012 spending per capita: $30,181
> Personal income per capita: $35,430 (5th lowest)
> Pct. bachelor’s degree: 30.7% (15th highest)
> June unemployment rate: 3.9% (4th lowest)
Utah residents were among the lowest earners in 2012, with a personal income per capita of just $35,430. This didn’t prevent them from spending more than 85% of their income in 2012, among the highest figures in the country. Income per capita is likely dragged down by Utah’s relatively young population, and larger families. In fact, households in the state were actually relatively well-off. A typical household brought in $57,049 in income as of 2012, among the higher median household incomes in the nation.
The list of the other states with the fewest "big spenders":
10. South Carolina
9. West Virginia
8. Kentucky
7. Idaho
6. Utah
5. Hawaii
4. Alabama
3. Nevada
2. Arkansas
1. Mississippi
