According to the Department of Labor, the average American makes $62,481 before taxes and this is how they spend it . . how do you compare?(Click to enlarge and be taken to the original source)
I spend far less than this "average" person, but since I earn less as well, it's a little difficult to compare dollar-to-dollar. Of course, it's also tricky because I'm married. So I while I use and enjoy electricity, my husband pays for it (along with car payments and insurance, trash service, dinners out, and more). :) So I ran the numbers strictly for the things I pay for and I used percentages thinking that made the most sense.
~Taxes account for 26%. (This is an oddball number because it combines various state, federal, and local taxes as best I can figure.) I know the first pie chart didn't include taxes/government fees, but how can you not? No one escapes them completely (as far as I know) and they're usually a big chunk money gone!
~Paying half the mortgage is 22% of my earnings if I just pay the billed amount. I'm trying to pay a little extra every month though, so this percentage is higher some months and surpasses the "average" 26.5% sometimes.
~Savings is 19%. I have it taken from my paycheck before I even see it, so I don't miss it. That trick allowed us to pay cash for our wedding and my master's degree :) I don't see a specific savings category in the original and I hope that doesn't mean the average person has no savings!
~Funding retirement and pension accounts for 12%. I'm very lucky my work still offers a pension since they seem to be going by the wayside.
~Food accounts for 4%. This is one of those misleading areas because I look really cheap - but the reality is that my husband also pays for groceries and he always pays when we go out to eat. It would probably be closer to the 10% average if his spending was included.
~Healthcare is 3%, perhaps because all I do is pay for insurance through my work and go in for a $10 checkup once a year. And under my dental plan, cleanings are free, so I only pay if I have a cavity.
~Gasoline, clothing, and entertainment are 1% each. My car gets about 37mpg (16 kilometers per liter) and my commute is a whopping 25 miles so I spend far less than most. Spending on entertainment is really difficult for me, but I prefer to buy experiences like seeing a play or hot air balloon rides over books and movies that I can borrow from the library.
~Other stuff accounts for roughly 10% (including the cats, travel, gifts, what's left over at the end of the month etc.) but since those specific categories weren't mentioned in the original pie chart, I'm content to lump them all together.
My percentages were less in most places, but I wonder if that's because I don't have any children and share expenses? And I'm sure my healthcare costs will increase over the years ;) Anything surprise you? How do you compare?