We’ve put together this simple info graphic to show how Americans are spending their income. Some numbers are higher for some of us and some are lower for others. Unsurprisingly, the main culprits for large expenditures are housing, transportation, and food. The cost of everyday necessities can add up quickly.
It’s no secret that many American workers are living paycheck to paycheck, with no room to set aside any savings for unforeseen expenses. An unexpected medical bill or loss of job can quickly change your spending priorities. Compare this info graphic to your normal spending habits to see if you are saving enough of your paycheck per month for rainy day emergencies or retirement. Here’s a look into how the average American spends their paycheck: