Yahoo Finance What American households spend their money on
American households spent an average of $60,060 last year, according to a report from the Bureau of Labor Statistics.
American consumers spent the most on housing, $19,884, which was a 5.3% increase from the prior year. While the amount spent on rentals didn’t change much, the money spent on owned properties increased by 10.4%.
Transportation was the second-costliest expenditure, with consumers spending $9,576. This was driven largely by the increase in vehicle purchases, which surged 11.6% over the last year after declining over 9% the year before.
Food spending came to an average of $7,729 per household, a 7.3% increase from 2016. The spending was broken down into food at home ($4,363) and food away from home ($3,365).
Entertainment spending has been steadily increasing, jumping 10% over the last year, while cash contributions (i.e., charity donations) dropped by 10%.
Other notable percentage increases in spending include healthcare (specifically health insurance) and education.
Here’s a more detailed breakdown:
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