America’s most expensive states revealed: From splashing out $500 a month for groceries to spending $10,000 on a funeral – here is where US citizens pay the most

Families are facing unprecedented pressure on their household budgets due to high interest rates and rampant inflation.

But it seems that some states are faring much worse than others. A new study from digital healthcare service Now Patient has exposed the huge differences in the cost of living between states by analyzing everything from the average cost of groceries, health insurance, gym memberships and even funerals.

It should come as no surprise that New York is the most expensive place to live, with residents spending $482.87 a month on groceries, $776 on health insurance and $10,335 on a standard funeral.

The second most expensive state is Alaska, where the average cost of health insurance is $822 per month, followed by Vermont, Hawaii, and Massachusetts in fifth place.

Meanwhile, Arkansas was considered the cheapest, as the average monthly cost for groceries is $282.46 per person, the typical health insurance plan is $456 per month — and a funeral costs $6,800.

In Vermont, the third most expensive state in the US, basic health insurance costs $760, groceries typically cost $497.41 a month, and the average funeral costs $8,984.

According to the study, Hawaii is the most expensive state in terms of both funeral expenses and monthly grocery costs per person — $15,203 and $556.76, respectively.

At the other end of the scale is New Hampshire, where the average cost of groceries per person is $183.

New Hampshire also has the lowest average health insurance costs at $372, according to Now Patient, while Wyoming has the highest at $882 per month.

Rounding out the top five most expensive states is Massachusetts, where costs were quite high in all categories.

The average funeral costs $10,270, monthly groceries cost $406.21, typical health insurance is $553 per month, and a gym membership costs residents $28.50 per month.

New York residents routinely spend $482.87 a month on groceries and $776 on health insurance, according to the study

Now Patient analyzed a range of factors to determine which states have the highest cost of living. This included groceries, health insurance and funerals – and the average price of a gallon of gas and a gym membership

In the US, North Dakota has the most expensive monthly gym membership – $33.20 – while the cheapest place to get fit is Utah, where the average membership is just $20.60 per month.

That’s because annual inflation rose modestly to 3.2 percent last month, rising slightly in July from June’s annual increase of 3 percent.

While it’s significantly down from last year’s peak of 9 percent, consumers are still feeling the pressure of higher costs across the board.

An analysis by Moody’s Analytics shows that inflation is forcing Americans to spend $709 more per month on everyday goods and services compared to two years ago.

For the first time in history, America credit card debt has broken the $1 trillion mark, according to Federal Reserve data.

Credit card balances rose $45 billion in the second quarter of the year as interest rates – which recently hit their highest since 2001 – continue to pressure households.

Fed data shows that US credit card debt has crossed the $1 trillion mark for the first time in history

Earlier this month, a leading economist warned that now is the time for Americans to “crouch down” and “be careful” with their spending.

“Save your money, because unfortunately the economic outlook will get worse before it gets better,” said Nancy Lazar, chief economist at investment firm Piper Sandler. Fox News digital.

“Be conservative, be careful with your credit cards. It’s a time to pull back and try to keep your savings up, rather than getting further into debt.”