New Jersey among states that spends the least on groceries, new study finds
WalletHub study ranked New Jersey 49th in the nation in spending on groceries.
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Grocery prices may have jumped 30% over the last five years, but a new study found that New Jersey residents have managed to keep their spending low.
The Garden State ranked 49th in a study by WalletHub of which states' residents spend the largest share of their median household income on groceries, with a total of 1.51%.
Massachusetts was found to be the only state spending slightly less on groceries, also with an average of 1.51% of peoples' incomes going toward filling their fridge.
Mississippi residents are the biggest spenders, clocking in at an averaging 2.60%, despite the state having the sixth-cheapest grocery prices in the nation, according to WalletHub.
Experts say the main problem for Mississippi residents is that the state has the lowest median annual household income in America, at just $54,915.
New Jersey, however, has the second highest median annual household income in the country, at $122,447.
If you're looking to save money on your groceries, WalletHub suggests creating a budget and using a credit card that will earn you 1.5% to 6% back at checkout.
Buying store-brand items or taking advantage of sales and clearance items can also bring down your bill.
