PORTLAND (WGME)-- Mainers may be some of the most responsible credit card holders in the US.
That's according to a study conducted by Experian.
CBS 13 spoke with financial experts to see if they believe this to be true; and what could be the cause.
At Bath Saving Institution, employees work daily with people looking to manage their funds.
Sherry Tremblay says people may purchase a credit card for many different reasons.
"People may choose to use a credit card for literally everything they do; like buying groceries and paying for everything," Tremblay said.
She says now when people look into credit cards, they value the bonus options.
"Consumers say, 'That's important to me. I want reward points," Tremblay said. "I want to earn all these points so I can fly at discounted prices. I can shop online at discounted prices."
According to Experian, in 2018, the average amount of credit cards per household in 3.1.
Maine is not for behind at 2.9 cards per household.
Tremblay says Mainers could be raised to be more conservative with their money.
"We are taught by her families. I instill the same thing with my own son; you buy it when you have the money to pay for it," Tremblay said.
According to the Bureau of Consumer Credit Protection, the overall balance per indebted households in 2018 is more than $9,000.
In Maine, the state is maxing out at $5,800.
Jeffery DiBartolomeo with the University of Southern Maine says there are a number of reasons Maine may have lower debt in certain cases.
He says one factor may be age
"I attribute it to age demographics. Basically, as people get older, they become more risk adverse. They generally spend less and accumulate less debt," DiBartolomeo said.
He says location may also play a role.
"For instance, people in the west coast, people in the north east, south east, in the middle of the country-- they all have different spending habits and different preferences for how they spend their money," DiBartolomeo said.
He says 2018 being a good year for Mainers does not guarantee 2019 will be the same.
"So, generally, spending can foreshadow people's expectations of the economy. So if the stock market is doing well, people feel wealthier. That's the known wealth affect and so they're more inclined to spend money," DiBartolomeo said.