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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