Next, let’s dig into what each expense category includes and break them down by the average monthly cost for each. They’re what the average American spends. Keep in mind, these are not recommended budget percentages. The 10 major categories for household expenses and their share of the total expenses for average Americans are: And remember, these are averages, so they could vary a lot based on the size of your household and the cost of living in your part of the country. But where’s all that money going? Let’s take a look at the 10 major categories of household expenses. No surprises here, right? The more people you have living in your home, the more you spend. For married couples with no kids, monthly expenses are $6,337.For single folks, the average monthly expenses are $4,009.The average monthly expenses for a family of four range from $7,333 to $8,595 (depending on the ages of your kids).But that dream comes with a pretty hefty price tag. Mom, Dad, two kids, one dog, a house and a picket fence-the American Dream. What Are the Average Monthly Expenses by Household Size? Let’s dig into the numbers a little more and see how household size affects average monthly expenses. Don’t settle for normal, because normal is broke, and the average, normal American spends hundreds of dollars a month on credit card and car payments. But when it comes to household expenses, below average is where you want to land. In school, in life and in business, being above average is great. 1īut if you’re budgeting and looking for ways to cut your expenses, don’t settle for average expenses. That equals $66,928 per year, which is crazy close to the average annual income of $78,743 after taxes. And they say the average monthly expenses for an American household add up to $5,577. There are folks at the Bureau of Labor Statistics who keep track of what Americans spend on everything from cereal to housing. After all, if you have kids, you’re guaranteed to spend more on milk and cereal than Phil and Janice, the retired couple next door. News flash-everyone’s situation is different. ![]() ![]() ![]() As you look for ways to cut costs, you’re probably wondering, What are the average American’s monthly expenses? Is everyone spending this much on food? To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs.Money’s tight for just about everybody right now (thanks, inflation). You may also visit the individual sites for additional information on their data and privacy practices and opt-out options. To learn more about ad choices, or to opt out of interest-based advertising with non-affiliated third-party sites, visit YourAdChoices powered by the DAA or through the Network Advertising Initiative's Opt-Out Tool. Ads served on our behalf by these companies do not contain unencrypted personal information and we limit the use of personal information by companies that serve our ads. Relationship-based ads and online behavioral advertising help us do that.īank of America participates in the Digital Advertising Alliance ("DAA") self-regulatory Principles for Online Behavioral Advertising and uses the Advertising Options Icon on our behavioral ads on non-affiliated third-party sites (excluding ads appearing on platforms that do not accept the icon). We strive to provide you with information about products and services you might find interesting and useful.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |