📝 Breaking Down the Average Household Budget in America

What We’re Showing:

This chart shows what the average American household’s monthly budget looks like, including savings, taxes, and all other expenditure.

This data is sourced from The Motley Fool, with annual figures for 2023 converted to monthly spending.

Key Takeaways

Taken together, housing, taxes, and savings account for nearly half of the average American household’s monthly budget.

Transport costs (including gas, insurance, and maintenance) take another big chunk (13%) out of the spending.

Also, What is a "Household?"

Per the source's definition, households include families, single people living alone, or two or more people living together sharing the majority of their expenses.

Other Data Notes

ℹ️ Not all spending happens every month (car maintenance for example). The annual cost is averaged over 12 months.

Five categories of spending have been combined into "miscellaneous" in this graphic. The data tab has them listed separately.

Finally, all figures listed are averages and do not account for variances between states with significantly different costs of living.