How the Average American Family Spends Their Income - And How to Trim It - The Simple Dollar
"I’ve often wondered how the typical household budget is spent. Several times in 2009, I came across this thoroughly interesting infographic, originally from VisualEconomics.com:
The picture depicts how the average American family spends their income based on Department of Labor data. For those without the visuals, I’ll break the info on the chart down into a list for you.
Household Budget Breakdown
Housing – shelter – $10,023
Pensions, Social Security – $5,027
Housing – utilities, fuels, public services – $3,477
Food – food at home – $3,465
Transportation – vehicle purchases – $3,244
Transportation – other expenses and transportation – $3,130
Healthcare – $2,853
Entertainment – $2,698
Food – food away from home – $2,668
Transportation – gasoline, motor oil – $2,384
Apparel and Services – $1,881
Cash Contributions (optional retirement and cash savings) – $1,821
Housing – household furnishings, equipment – $1,797
Education – $945
Housing – household operations – $984
Miscellaneous – $808
Housing – housekeeping supplies – $639
Alcoholic Beverages – $457
Personal Care – $588
Life, other personal insurance – $309
Reading – $118
For many people, this describes some form of their annual budget. Yes, some numbers are higher for some of us and other numbers are lower, but this really is a rough approximation of how we all spend our money."