Learn about the average American budget in this fun and interactive piece..
According to the Bureau of Labor Statistics, the average American household earns an average of $101,805 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?
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.
Americans spend an average of 17% of their total income on transportation, including the purchase and upkeep of their vehicle.
Whether cooking at home or eating out, Americans spend an average of 13% of their income on food.
After the “basic needs” are covered, Americans spend an average of 12% of their income on personal insurance and pensions.
The average American household spends an average of 8% of their total income on health care and health insurance.
At the end of the day, Americans still manage to spend an average of 5% of their income on entertainment.
Americans value charitable giving by spending an average of 3% of their income on cash contributions.
Finally, Americans spend 3% of their total income on apparel.
