Each year, the Bureau of Labor Statistics reports on consumer spending patterns. According to
the 2019 report, consumers spent an average of $61,224 in 2018.*
| Share of Total Spending for the top 5 categories | |
|---|---|
| Housing | 33% |
| Transportation | 16% |
| Food | 13% |
| Insurance & Pension Contributions | 12% |
| Health Care | 8% |
*Average annual expenditures per consumer unit. Consumer units include families, single persons living alone or sharing a household with others but who are financially independent, and two or more persons living together who share major expenses.
U.S. Bureau of Labor Statistics, Consumer Expenditures 2018, released September 2019
IMPORTANT DISCLOSURES
Wellspring Financial Partners, LLC does not provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
