Spending: How do you stack up?
Life is pricey, no doubt. We all have expenses we face month in and month out: mortgage or rent, cable and internet service, the day care bill. So how might your expenses compare with everyone else’s? Here’s a snapshot of some of the ways Americans are spending their cash.
Housing
$1,483
Average total monthly cost for housing, including property taxes if applicable
$57,710
Average down payment for homes nationwide in the first quarter of 2015
30.5%
Average portion of total income that a married couple spends on housing
Sources: U.S. Bureau of Labor Statistics, RealtyTrac
Median national rent in 2015: $1,380
Source: Zillow; city numbers are from January 2016 and refer to all rental homes in the metro area
TransportationTransportation
$756
Total monthly transportation spending (including car or public transportation, gas, insurance and other related expenses)
$483
Average new car loan payment
$127
Expected monthly spending on gas per household in 2016
$93
Average monthly insurance cost for a midsize sedan
Sources: BLS, Edmunds, U.S. Energy Information Administration, AAA
Health care
Average monthly workplace insurance premiums for family coverageincreased 61% from 907 dollars in 2005 to 1462 dollars in 2015.
Source: Kaiser Family Foundation, numbers account for combined contribution of employer and worker
Child careChild care
$402
Average monthly cost per child for full-time infant day care in Mississippi, the least expensive state
$1,422
Cost in Massachusetts, the most expensive state
Source: Child Care Aware America
Other things we spend on each monthOther things we spend on each month
$618
A “moderate” bill for a couple for food consumed at home
$248
Average contribution to charity
$227
Average amount Americans spend on entertainment
$99
Average cable bill
Source: USDA, Indiana University Center of Philanthropy, BLS, Leichtman Research
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