According to the U.S. Bureau of labor Statistics, Americans spent $10.7 trillion shopping. Some estimate that could buy 2,000 aircraft carriers, 300 private islands and have enough dough left over to buy a summer home in the Catskills.
Have you ever wondered how the average American budgets their available income? This infographic depicts how we spread out our paychecks over a typical month.
Consolidated Credit Counseling Services, Inc. says, “The amount of money you spend on various parts of your budget plays an important role in determining your financial health. In addition to how much of your income is used to pay off debt, the amount of money that’s used for regular monthly expenses can determine if you are making headway in achieving your financial goals. Spending too much money in just one area of your budget can limit the cash you have for saving, investing and reaching your goals.
F. Scott Fitzgerald was right when he wrote that, "Let me tell you about the very rich. They are different from you and me."? The interesting part is that the rich and poor alike share the same geography although they spend their monies much differently.
In this Forbes article it points out how the rich and not so rich spend their wealth. How Americans Make And Spend Their Money