Latest news with #billpay
Yahoo
2 days ago
- Business
- Yahoo
doxo Report Ranks States by Household Bill Burden, From Highest to Lowest
doxo's data shows California is the most expensive state for household bills, while West Virginia remains one of the most affordable SEATTLE, August 14, 2025--(BUSINESS WIRE)--The newly released 2025 State-by-State Bill Pay Market Report from doxoINSIGHTS offers an in-depth look at how household bill costs vary across the nation. The report reveals that Americans spend a median of $2,058 per month—approximately 31% of the U.S. median household income of $84,583—on essential bills. Costs vary widely by state, with California, Hawaii, New Jersey, and Massachusetts among the most expensive, while West Virginia, Mississippi, Arkansas, and Oklahoma rank as the most affordable. Leveraging doxo's proprietary dataset, which covers 97% of U.S. ZIP codes and 45 bill pay service categories, the report provides Americans with a more accurate and detailed picture. It analyzes median monthly bill payments rather than relying on industry averages or survey-based market estimates. This state-level breakdown reveals how household bills contribute to the overall cost of living across all 50 states. doxo's Cost of Bills Index™ (COBI) provides a consistent basis for comparison nationwide. The 2025 State-by-State Bill Pay Market Report offers resolution at the state level, providing the most comprehensive view into the Bill Pay Economy™. The 2025 report details: Monthly and annual household bill median costs for each state. Breakdowns of the 13 most common household bills: Mortgage, Rent, Auto Loan, Utilities (Electric, Gas, Water & Sewer, Waste & Recycling), Auto Insurance, Cable & Internet, Mobile Phone, Health Insurance (consumer-paid portion), Alarm & Security, and Life Insurance. Key findings include: Californians spend a median of $2,854 each month on the thirteen most common household bills, which is 39% higher than the national median. In contrast, residents of West Virginia spend a median of $1,149 each month, 44% below the national median. Full rankings of the most expensive and most affordable states to live in are available in the complete report. A list of the 10 most expensive and least expensive states is outlined below. 10 Most Expensive States for Household Bills State MedianMonthly Bill1 Cost of BillsIndex (COBI)2 % ofHH Income % +/-National Median California $2,854 139 33% + 39% Hawaii $2,712 132 33% + 32% New Jersey $2,621 127 29% + 27% Massachusetts $2,614 127 29% + 27% Maryland $2,505 122 28% + 22% Washington $2,453 119 29% + 19% New York $2,412 117 31% + 17% Colorado $2,391 116 30% + 16% Connecticut $2,354 114 28% + 14% Alaska $2,276 111 30% + 11% 10 Least Expensive States for Household Bills State MedianMonthly Bill1 Cost of BillsIndex (COBI)2 % ofHH Income % +/-National Median West Virginia $1,149 56 23% - 44% Mississippi $1,502 73 32% - 27% Arkansas $1,539 75 30% - 25% Oklahoma $1,543 75 28% - 25% New Mexico $1,581 77 29% - 23% Kentucky $1,587 77 29% - 23% Alabama 1,601 78 29% - 22% Indiana $1,620 79 27% - 21% Iowa $1,622 79 26% - 21% Kansas $1,624 79 25% - 21% 1 Median Monthly Bill shown above reflects the Median Household Bill Pay Expense for the thirteen most common bills paid monthly, including housing (rent/mortgage). See full report for details. 2 For the Cost of Bills Index (COBI), the number 100 represents the national median, and then, states, counties, and cities are assigned a number, either above or below 100, based on how they compare to the national median. Data is sourced from the doxoINSIGHTS 2025 U.S. Household Bill Pay Report, reflecting consumer payment data from March 2024 to March 2025. For the latest analysis of U.S. household bill expenses, please visit and select a state to explore state, county, and city data. To view more from doxoINSIGHTS and its 2025 State-by-State Bill Pay Market Report, including a full breakdown of the amount paid in household bills across all of the 50 states, click here. About doxoINSIGHTS doxoINSIGHTS provides direct insight into The Bill Pay Economy™ by leveraging consumer surveys and doxo's unique aggregate bill pay data set, comprising actual bill payment activity to confirmed household service providers across the country. doxo data brings together the broadest available data set for analyzing actual household bill payment activity, pulling from over 10 million paying consumers across over 97% of U.S. zip codes. doxo's payment network covers over 120,000 billers in 45 different service categories and enables payments using bank accounts, credit cards or debit cards. This uniquely broad statistical foundation powers doxoINSIGHTS reports – uncovering key trends for household financial health and bill payment behavior. Uncovering an even deeper level of insight into Americans' cost of living, doxo's proprietary Cost of Bills Index™ (COBI), a new feature of doxoINSIGHTS, provides a consistent basis of comparison at the state, county, and city levels. About doxo doxo delivers innovation that transforms the bill pay experience for consumers, billers, and financial technology providers. For over 10M consumers, doxo's all-in-one bill pay makes it simple to organize and pay any bill on any device through a secure checkout. For billers, doxo's network-driven platform enables online and mobile payments with a ridiculously simple integration, radically lower costs, and game-changing features that are unavailable with legacy bill pay vendors. For fintech partners, doxo delivers financial innovations to consumers across 97% of US Zip Codes, paying from more than 8,000 financial institutions to over 120,000 billers in 45+ service categories. For employees, doxo is a creative, ever-learning team that is passionate about building fintech tools that dramatically improve the bill pay experience. For investors, doxo provides an extraordinary opportunity to invest alongside Jackson Square Ventures, MDV, and Bezos Expeditions to disrupt a market that accounts for over $4T of US Household spend. To learn more about America's leading bill pay network, visit View source version on Contacts Media contact Dotted Line Communications for doxoJenny Davispress@
Yahoo
04-07-2025
- Business
- Yahoo
3 Banking Tips That Can Save You Thousands Over the Rest of Your Life
Banks keep your hard-earned money safe, secure and accessible — and they even pay modest yields on your deposits. Most people won't get rich off their savings accounts, but everyday bank customers can save thousands over the course of their lives by working the system to their advantage and getting the most out of their bank's tools, features and services. Read Next: Find Out: Here are three key banking tips that will save you thousands over the rest of your life. In the long run, automatic bill pay has the potential to save you more money than nearly any other banking feature because bills on autopilot are bills that never go unpaid. According to Chase, a single missed payment can tank your score by more than 100 points and haunt your credit report for up to seven years — and payment history accounts for 35% of your credit score, the largest percentage of any factor. When you need to borrow, a hit like that could limit you to only the most expensive loans with difficult terms — if you're even approved at all. That could cost you thousands on an auto loan and tens or even hundreds of thousands on a mortgage while potentially precluding you from rental leases and employment opportunities. Nacha, formerly the National Automated Clearinghouse Association, operates the Automated Clearing House (ACH) Network, which is responsible for electronically transferring much of America's financial data and funds. It suggests taking advantage of direct deposit splits, a valuable tool used by fewer than one in four of the 88% of employees who get paid through electronic transfers. By sending portions of each paycheck to different accounts directly from their company's payroll department, workers can divert a set percentage or dollar amount straight to savings every pay period. Nacha reports that employees who split their direct deposits save $90 more per month than those who do not. That's $1,080 extra every year. Writing for Ramsey Solutions, personal finance coach and author Jade Warshaw stated that the average person finds $395 during the first month of budgeting and cuts their long-term spending by 9%. Naturally, she recommends Ramsey's EveryDollar budgeting platform, but your bank's free app might be the most powerful arrow in your financial quiver. Nearly all major banks and many smaller ones offer valuable budgeting tools that could help you save thousands of extra dollars over the years, including: Spending trackers Expense categorization Cash flow trackers Real-time updates and alerts Goal setting and progress tracking Visualized insights Spending limit setting controls More From GOBankingRates The New Retirement Problem Boomers Are Facing This article originally appeared on 3 Banking Tips That Can Save You Thousands Over the Rest of Your Life
Wall Street Journal
24-06-2025
- Business
- Wall Street Journal
Xero to Buy Melio for Initial $2.5 Billion in U.S. Growth Play
SYDNEY—Accounting-software provider Xero XRO 0.39%increase; green up pointing triangle will acquire bill-pay platform Melio for an initial US$2.5 billion in a deal that Xero said significantly accelerates its U.S. revenue growth. The New Zealand company on Wednesday said it would partly fund the largest acquisition in its 19-year history with a US$1.2 billion institutional placement. It will also draw upon a US$400 million unsecured credit facility and US$600 million of existing cash.
