Where Does our Money Go?

The information is from the Consumer Expenditures Survey of the U.S. Department of Labor April 2009. It applies to the average consumer, who is 48.8 years old, is part of a family comprised of 2.5 people, has 1.3 wage earners and owns 1.9 motor vehicles. 67% of the consumers are homeowners.

You can use this to compare to your own expenditures:

Housing 34.1% = $16,920, split as

• 20.2% or $10,023 for shelter,
• 7.0% or $3,477 for utilities, fuels and public services,
• 2.0% or $984 for household operations,
• 1.3% for housekeeping supplies,
• 3.6% or $1,797 for household furnishings and equipment.

Transportation $8,758, split as

• 6.5% or $3,244 for vehicle purchase,
• 4.8% or $2,384 for gasoline and motor oil,
• 6.3% or $3,130 for other transportation expenses.

Food = $6,133, split as:

• 7.0% for Food at home $3,465 and
• 5.4% for Food away from home $2,668.

Pensions and social security tax = 10.1% or $5,027.
Healthcare = 5.7% or $2,853.
Entertainment 5.4% = $2,698.
Clothing apparel and services = 3.8% or $1,881.
Cash Contributions 3.7% = $1,821.
Education = 1.9% or $945.
Miscellaneous = 1.6% or $808.
Personal Care = 1.2% or $588.
Alcoholic beverages = 0.9% or $457.
Tobacco 0.7% or $323.
Life Insurance and other personal insurance = 0.6% or $309.
Reading 0.2% = $118.

Total spent = $49,638.


References:
1) U. S Dept. of Labor Consumer Expenditure Survey = http://www.bls.gov/cex/
2) Visual Economics "How the average U.S. consumer spends their paycheck?" http://tinyurl.com/nrsvvl