The average American spends $50,486 a year according to the US Bureau of Labor. Here is a breakdown of those expenditures by category.

According to the United States Bureau of Labor Statics, the average annual expenditures during this period were $50,486. Northeast spending was $54,918, Midwest spending was $47,846, Southern spending was $46,823 and Western spending was $55,453.

expenses-average

The average annual expenditures break down as follows:

  • Housing – 33.9 percent, or $17,115
  • Transportation – 17 percent, or $8,583
  • Food – 12.8 percent, or $6,462
  • Personal insurance and pensions – 11.1 percent, or $5,604
  • Health care – 5.9 percent, or $2,979
  • Entertainment – 5.6 percent, or $2,827
  • Apparel and services – 3.6 percent, or $1,817
  • Cash contributions – 3.4 percent, or $1,717
  • Education – 2.1 percent, or $1,060
  • Miscellaneous – 1.7 percent, or $858
  • Personal care and services –1.2%, or $606
  • Alcoholic beverages – 0.9 percent, or $454
  • Tobacco products and smoking supplies – 0.6 percent, or $303
  • Reading – 0.2 percent, or $101

— Read more at www.creditloan.com/blog/average-american-spends-on-entertainment/

This is meant in no way to provide financial advise to your particular situation. I just wanted to share it as a reference point in case people were interested.

The median household income in 2014 was $73,298.

According to the U.S. Census Bureau, the average household income was $73,298 in 2014, the latest year for which complete data is available. However, this doesn’t tell the whole story. Depending on your family situation and where you live, average household income can vary dramatically.

www.usatoday.com/story/money/personalfinance/2016/11/24/average-american-household-income/93002252/

This is per consumer unit. The average consumer unit makes $74,664 pre-tax.

Consumer units include families, single persons living alone or sharing a household with others but who are financially independent, or two or more persons living together who share expenses.

www.bls.gov/news.release/cesan.nr0.htm

h/t Theocletian

Related Posts:

If everyone who reads our story, who likes it, helps fund it, our future would be much more secure. For as little as $10, you can support the IWB – and it only takes a minute. Thank you. 897 views