The Average American Budget
According to the Bureau of Labor Statistics, the average American household earns an average of $78,635 a year before taxes and spends over 77% of that on “basic needs.” But studies have shown that regardless of income, budget percentages remain the same across categories. So, how does your household compare?
Housing
The average American spends roughly 33% of their income on shelter. This can include property rental, 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 13% 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 4% 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
The Average American Budget
According to the Bureau of Labor Statistics, the average American household earns an average of $78,635 a year before taxes and spends over 77% of that on “basic needs.” But studies have shown that regardless of income, budget percentages remain the same across categories. So, how does your household compare?
Housing
The average American spends roughly 33% of their income on shelter. This can include property rental, 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 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 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 4% 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
