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Feb 02, 2015

Chart of the Week: What Does the Average Household Spend their Money On?

Updated 8/1/19: 

File:Household spending United States.png

Questions:

  • What are the three largest cost categories for the typical household? 
  • Are there any categories that are noticeably missing? 
  • Do any of these items seem particularly high or low? (Hint: these are annual figures; you may want to convert to monthly)

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Check out the Bean Game, an engaging way for students to make budget decisions and discern the difference between wants and needs. Includes teacher ideas for implementation too! 

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 Check out NGPF's new Financial Algebra course which makes math fun and relevant!  

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About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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