Illinois worst in Midwest for discretionary income
According to a recent article in the Belleville News-Democrat, Illinois ranks 30th among all states in terms of how much discretionary income residents have, and the state ranks 12th out of 12 Midwestern states. The article is based on study from the storage company Trove, which itself looked at “mean annual wage” data from the Bureau of Labor Statistics and compared it to cost-of-living indices to determine the cost of basic expenses.
The report defines discretionary income as the “amount of income leftover after subtracting Estimated Taxes and Basic Expenses.” Michigan took the top spot nationally as the state where residents have the highest level of discretionary income.
You can read the full article here. Trove has an online discretionary income comparison tool available here.