In this episode we will talk about

  • Where the average american spends their money according to the Bureau of Labor Statistics – particularly the big 3 areas.
  • How can we as consumers do a better job of spending and planning in those areas

 

The Largest Spending Categories for the Average American Consumer

  1. Housing – $19,884 (33.1%)
  2. Transportation – $9,576 (15.9%)
  3. Food – $7,729 (12.9%) – 3459 eating out
  4. Personal insurance and pension – $6,771 (11.3%)
  5. Healthcare – $4,928 (8.2%)
  6. Entertainment – $3,203 (5.3%)
  7. Other expenses – $2,214 (3.7%)
  8. Cash contributions – $1,873 (3.1%)
  9. Apparel and services – $1,833 (3.1%)
  10. Education – $1,491 (2.5%)