Average Texas residents pay nearly $120,000 in lifetime interest fees, study finds

Average Texans will pay $119,349 in interest payments over their lifetimes, below the U.S. average of $130,462, according to a new analysis from Self.com, a company that helps consumers build credit and savings.

The average lifetime interest fee for Texans was the 27th highest among the 50 states, the study said. Such interest fees result from credit card liabilities, vehicle financing, home mortgages and loans for college.

One area where Texans pay the greatest amount of interest compared to other states is car loans, according to Self.com. Interest car loan fees for the average Texan total $22,475, the report says.

Hawaiians on average pay the highest lifetime interest fees at $272,326, while Iowans spend the least on interest payments ($93,416), according to Self.com.

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Average Lifetime Interest Fees in Each State

Rank	State	Change
1	Hawaii	$272,326
2	California	$234,337
3	Massachusetts	$195,168
4	New Jersey	$176,070
5	Colorado	$173,265
6	Washington	$169,358
7	New York	$169,030
8	Maryland	$161,112
9	Oregon	$159,844
10	Alaska	$153,842
11	Rhode Island	$153,337
12	Virginia	$150,576
13	New Hampshire	$150,101
14	Connecticut	$149,101
15	Delaware	$147,635
16	Montana	$131,782
17	Nevada	$131,762
18	Wyoming	$128,103
19	Minnesota	$127,376
20	Maine	$127,135
21	Vermont	$127,028
22	Utah	$124,562
23	Florida	$123,552
24	Arizona	$122,003
25	North Dakota	$120,187
26	Illinois	$119,947
27	Texas	$119,349
28	Georgia	$117,944
29	South Carolina	$117,310
30	Pennsylvania	$115,706
31	Louisiana	$114,630
32	North Carolina	$113,439
33	Idaho	$113,345
34	Tennessee	$108,896
35	Alabama	$107,376
36	Wisconsin	$106,896
37	South Dakota	$106,455
38	New Mexico	$106,051
39	Missouri	$103,477
40	Michigan	$102,067
41	Mississippi	$101,771
42	Kansas	$101,577
43	Kentucky	$99,129
44	Nebraska	$97,604
45	Oklahoma	$96,946
46	Ohio	$96,436
47	West Virginia	$96,385
48	Arkansas	$94,232
49	Indiana	$94,090
50	Iowa	$93,416

Source: Self.com