Customer
Blogs

09.14.2009 / What do you spend your money on?

Recently, Visual Economics (http://www.visualeconomics.com/how-the-average-us-consumer-spends-their-paycheck/) shared a chart showing how the average US consumer spends their paycheck on an annual basis. The chart was based on a study by the 'Consumer Expenditure Survey' by the US Department of Labor (http://www.bls.gov/cex/).

"The mere act of tracking your expenses for a month makes you more aware of what you spend and can help you decide what - if anything - you might be spending too much money on."

The results are interesting – American consumers spend the most on:

  • Housing (34.1%)
  • Transportation (17.6%)
  • Food (12.4%)
  • Insurances & Pensions (10.8%)
  • Healthcare (5.7%)
  • Entertainment (5.4%)

Where do you stack up? If you don’t already track your expenses, now is the time to start. Tracking your expenses is the first step in setting a budget.  The mere act of tracking your expenses for a month makes you more aware of what you spend and can help you decide what – if anything – you might be spending too much money on.  While budgets can be a highly personal matter, using information found in the survey above can help you identify where you may be living above your means.

What do you spend your money on? Is there an expense where you excel at saving or one you wish you could spend less on? Let us know!

Posted at 10:58 AM | Permalink

Comments

I don't see taxes anywhere on here. That's becoming a huge part of our outlay.
Posted by Old Guy at 01:46 PM, Sep 11, 2009
Post A Comment
 

The views expressed on this site may not reflect the views held by First National Bank of Omaha or any of its affiliates. The information provided through this website is not a substitute for any personal advice from a licensed professional. Use of any information or advice shall be solely at the user's own risk.

We welcome your comments. All comment submissions will be reviewed prior to being posted. If the comments are posted, they may be removed at any time. Comments will not be approved if they contain, include or involve any of the following: Obscenity; Crude, vulgar or offensive language and/or symbols; Gang signs or symbols; Derogatory characterizations of any ethnic, racial, sexual or religious groups, personal attacks of any kind towards others; Trespass or the violation of other people's rights or property; Illegal (e.g., discriminatory, harassing) or inappropriate activity, behavior or conduct (e.g., inflicting emotional distress); Any other content that is or could be considered inappropriate, unsuitable or offensive, or clearly "off-topic" as determined by First National Bank of Omaha. To protect your own privacy and the privacy of others, please do not include personally identifiable information such as Social Security Number, phone number or email address in the body of your comment.

For account related questions, please log in to First National Online at www.firstnational.com and use the secure email located in Contact Us.