typical family expenses

most u.s. households have the same major categories of expenses, which give us a roof over our heads, food in our bellies, clothes on our bodies and a way to get to and from work or school. the average cost of utilities per month is about $320. for the average household, transportation costs are almost as much as what’s spent on rent or the direct costs of home ownership: an average of $9,004 annually. or we could go out to a steakhouse and drop hundreds of dollars on dinner every night.

more than one in four u.s. households has either life insurance, endowment, annuity or other personal insurance, at an average cost of about $1,231 per year. the average cost of health insurance for u.s. households that reported making payments on it in 2013 was $284 per month. 37% of households spend on alcohol, an average of $80 per month ($970 annually). advertiser disclosure: some of the offers that appear on this website are from companies which valuepenguin receives compensation.

that means the average spending per year is $61,334. based on the income and spending figures, americans spend 82% of their income after taxes and have a savings rate of 18%. it’s also worth noting that not all of the typical expenses are monthly expenses. national average transportation spending decreased by 8.5% from 2019 to 2020. it’s easy to miss just how much we spend on transportation, because some of the bigger expenses are intermittent.

it decreased by 10.4% from 2019 to 2020. there’s one clear reason for that drop in food spending, and it probably won’t come as a surprise considering the circumstances in 2020: people seriously cut back on dining. that category includes contributions to retirement accounts and the social security benefits withheld from your paycheck. and those with larger families may want to see what the typical spending habits are like in similar households. it’s interesting to see what the typical american spending habits look like and compare them to your own. editorial content from the ascent is separate from the motley fool editorial content and is created by a different analyst team.

the average u.s. household spends $17,148 on all things related to housing. that’s an average of $10,080 for direct the average household’s monthly expenses are $5,111 ($61,334 per year). the average annual income after taxes is $74,949. housing is the according to data from the bureau of labor statistics, the average pretax household income in the united states in 2019 was $82,852, while average household, .

1. housing or rent 2. transportation and car insurance 3. travel expenses 4. food and groceries 5. utility bills 6. cell phone 7. whether you are in a family of 2, 4, or more, average monthly expenses for any family is pricey. examine the average monthly expenses of americans to see needs mortgage/rent. homeowners or renters insurance. property tax (if not already included in the mortgage payment). auto insurance., . what are typical household expenses? what are the average expenses for a family of 4? what are some typical expenses? what’s the 50 30 20 budget rule?

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