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How the Average American Family Spends Money

What is Middle Class Income?
How the Average American Family Spends Money

5.7% Cars 8.6% Groceries 0.7% Shoes 31.4% Rent & Mortgage

0.8% Tobacco 5.7% Dining Out 0.9% Alcohol 1.2% Public Transport

5.3% Gasoling 1.6% Car Repairs 1.7% Medicine

5.4% Utilities 3.0% DRs & Dentists

4.1% Furniture/Household 0.8% Men's Clothing 1.9% TV, Music, Cable etc 1.7% Movies, Gym, Concerts

1.7% Hospital Visits 1.5% Women's clothing 0.2% Books, Mags, Newspapers 1.1% Pet care


Average American Middle Class Income & Lifestyle

$250,000
$1123,000
Middle Class Income Range
$51,000
$0

Income $81,000 / yr Home size 2,300 SQ FT. Savings $ 4000 / yr
Health, Medical $5000 /yr Vacation for Four $3,000 Retirement Fund 3.2% of INCOME


Who is Middle Income?
61% of American householdsare considered middle income

1970

2012
50% of American householdsare considered middle income


Savings Rate (percentage of salary saved)

8.3% 11% 10% 2% 7% 8% 5.3% 2.5%

1959 1973 1984 2006 2008 2009 2010 2011


College Loans
The amount borrowed by upper—middle--income families has soared. They
owed an average of $32,869 in college loans in 2010, up from $26,639 in 2007, after adjusting for inflation.

$26,639
average in college
loans owed in 2007

$32,869
average in college
loans owed in 2010


Discretionary Items per Household
How Much is Spent Annually?

$380 0.6% Tobacco Products
A person who smokes a pack of cigarettes a day in New York state will spend more than $4000 a year, roughly 10% of the average American income before taxes

$249 0.5% Apparel Products and Services
Clothing rentals and storage, dry cleaning, jewelry and shoe and watch repair

$400 0.8% Entertainment Equipment and Services
Bicycles, trailers, camping equipment, sports equipment etc

$435 0.9% Alcohol
Beer, wine, hard liquor and mixed drinks

$975 2.0% Television - Radio . Sound Equipment
Up from $429 in 1989. For compariso, the average amount spent on reading material, which is another household expenditure category, was only $109.

$672 1.4% Lodging, Vacation Homes and Hotels

$690 1.4% Pets, Toys Hobbies, Playground Equipment

$628 1.3% Fees and Admissions
Fees and admission for sporting events, films, concerts and movie rentals

$1,967 2.2% Gifts
This amount has increased from $887 in 2009

$2,619 5.3% Food Away From Home What is Middle Class Income? How the Average American Family Spends Money 5.7% 8.6% 0.7% | 31.5% Rent & Mortgage Cars Groceries | Shoes 0.8% 5.7% 0.9% |1.2% Dining Out Public Transport Tobacco Alcohol 1.6% 5.3% Car Repairs Gasoline 1.7% Medicine 3.0% E 5.4% DRs & Dentists Utilities | 4.1% 0.8% Men's Clothing | 1.9% TV, Music, Cable, etc. | 1.7% Movies, Gym, Concerts Furniture/ Household 1.7% Hospital Visits 1.5% 0.2% Books, Mags, Newspapers |1.1% Women's Clothing Pet Care Average American Middle Class Income & Lifestyle $250,000 2$ Income Home Size Savings $81,000 2,300R $4,000m. /yr. $123,000 Middle Class Income Range $51,000 Health, Medical Vacation for Four Retirement Fund $5,000 $3,000 3.2%fcoME Who is Middle Income? 612 of American households are considered middle income 2012 1970 50: of American households are considered middle income Savings Rate (percentage of salary saved) 7% 8% 5.3% 3.5% 8.3% 11% 10% 20% 1959 1973 1984 2006 2008 2009 2010 2011 College Loans The amount borrowed by upper-middle-income families has soared. They owed an average of $32,869 in college loans in 2010, up from $26,639 in 2007, after adjusting for inflation. $26,639 $32,869 average in college loans owed in 2007 average in college loans owed in 2010 Discretionary Items per Household How Much is Spent Annually? Tobacco Products $380 0.8% A person who smokes a pack of cigarettes a day in New York state will spend more than $4,000 a year, roughly 10% of the average American income before taxes. $672 1.4% Lodging, Vacation Homes and Hotels Apparel Products and Services $249 0.5% Clothing rentals and storage, dry cleaning. jewelry and shoe and watch repair $690 Pets, Toys Hobbies, Playground Equipment 1.4% Fees and Admissions Entertainment Equipment and Services $628 $400 0.8% Fees and admission for sporting events, films, concerts and movie rentals 1.3% Bicycles, trailers, camping equipment, sports equipment etc. Gifts $1,067 22% Alcohol $435 0.9% Beer, wine, hard liquor and mixed drinks This amount has increased from $887 in 2009. Television-Radio-Sound Equipment $975 $2,619 Food Away From Home 5.3% Up from $429 in 1989 For comparison, the average amount spent on reading material, which is another household expenditure category, was only $109. 2.0% SOURCES » http://money.usnews.com » http://www.boston.com » http://www.sfgate.com » http://www.npr.org » http://www.spendonlife.com » http://online.wsj.com » http://www.forbes.com » http://moneyland.time.com .. ..........

How the Average American Family Spends Money

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What does the average middle class family spend their money on? The stats in this infographic could help you determine the spending buckets that are consuming your latte money, and funds for other, p...

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