The Average American Budget
The Average American Budget
According to the Bureau of Labor Statistics, the average American household earns an average of $87,432 a year before taxes and spends over 80% of their available income on basic necessities such as housing, food, and clothing. So, how does your household compare?
Housing
The average American spends roughly 34% of their income on shelter. This can include property rent, mortgage interest, property taxes, maintenance, repairs, and home insurance.
of the average American budget
$20,091
Transportation
Americans spend an average of 16% of their total income on transportation, including the purchase and upkeep of their vehicle.
of the average American budget
$9,761
Food
Whether cooking at home or eating out, Americans spend an average of 12% of their income on food.
of the average American budget
$7,20
Insurance
After the “basic needs” are covered, Americans spend an average of 12% of their income on personal insurance and pensions.
of the average American budget
$6,831
Healthcare and Health Insurance
The average American household spends an average of 8% of their total income on health care and health insurance.
of the average American budget
$4,968
Entertainment
At the end of the day, Americans still manage to spend an average of 5% of their income on entertainment.
of the average American budget
$3,226
Cash Contributions
Americans value charitable giving by spending an average of 4% of their income on cash contributions.
of the average American budget
$1,888
Apparel
Finally, Americans spend 3% of their total income on apparel.
of the average American budget
$1,866
The Average American Budget
According to the Bureau of Labor Statistics, the average American household earns an average of $82,852 a year before taxes and spends almost 80% of their available income on basic necessities such as housing, food, and clothing. So, how does your household compare?
Housing
The average American spends roughly 33% of their income on shelter. This can include property rent, mortgage interest, property taxes, maintenance, repairs, and home insurance.
of the average American budget
$20,091
Transportation
Americans spend an average of 17% of their total income on transportation, including the purchase and upkeep of their vehicle.
of the average American budget
$9,761
Food
Whether cooking at home or eating out, Americans spend an average of 13% of their income on food.
of the average American budget
$7,203
Insurance
After the “basic needs” are covered, Americans spend an average of 11.4% of their income on personal insurance and pensions.
of the average American budget
$6,831
Healthcare and Health Insurance
The average American household spends an average of 8.2% of their total income on health care and health insurance.
of the average American budget
$4,968
Entertainment
At the end of the day, Americans still manage to spend an average of 5% of their income on entertainment.
of the average American budget
$3,226
Cash Contributions
Americans value charitable giving by spending an average of 3% of their income on cash contributions.
of the average American budget
$1,888
Apparel
Finally, Americans spend 3% of their total income on apparel.
of the average American budget
$1,866
