Average Household Budget in America 2022

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Last Update: May 4, 2022 Save Money Studies
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The results are in, and Americans’ average annual household expenditures totaled $61,334 in 2020. And while the metric declined year-over-year (YoY), Americans’ average pre-tax household income increased to $84,352.

To explain, the U.S. Bureau of Labor Statistics (BLS) latest Consumer Expenditures Survey shows that Americans’ average pre-tax income increased by 1.8% YoY in 2020, while Americans’ average household expenditures decreased by 2.7% YoY.

However, will Americans household expenses likely increase in 2021? And how did the pandemic impact the BLS’ findings? Read on for more information.

Average Household Budget and Expenses in America 2022: Statistics and Key Findings

Americans’ average pre-tax income increased by 1.8% YoY in 2020, while Americans’ average household expenditures decreased by 2.7% YoY.

Americans’ expenditures at restaurants declined by 32.6% YoY in 2020, while alcoholic beverages fell by 17.4% YoY, clothing fell by 23.8% YoY, and public transportation plunged by 66.3% YoY. Conversely, Americans’ expenditures on reading materials increased by 23.9% YoY, while spending on homemade meals increased by 6.4% YoY.

Americans allocated the highest proportion of their average pre-tax household income (APTHI) to housing (25.4%), transportation (11.6%), and food (8.7%). Conversely, Americans allocated the lowest proportion of their APTHI to reading materials (0.1%), tobacco and cigarettes (0.4%), and alcoholic beverages (0.6%).

Americans’ average annual household expenditures have increased by a 2.30% CAGR from the end of 2014 until the end of 2020.

Americans’ spending on cash contributions (4.16%), pensions/insurance (4.0%), and healthcare (3.18%) recorded the highest increases over the last six years. Conversely, Americans’ spending on clothing (-3.59%), tobacco and cigarettes (-0.21%), and personal care products/services (0.03%) recorded the lowest increases over the last six years.

By Region:

Households in the northeast ($95,329) and the west ($91,964) earn the highest APTHI in the United States.

Average annual household spending in the northeast and the west are more than $10,000 higher than in the south, and both regions also spend over $7,000 more than similar households in the midwest.

By State:

Americans in Hawaii ($2,731), New Jersey ($2,562), and California ($2,529) incur the highest monthly expenses in the U.S, while Americans in West Virginia ($1,485), Arkansas ($1,534), and Mississippi ($1,567) incur the lowest monthly expenses in the U.S.

Americans in Louisiana (45.0%), Florida (42.0%), and Montana (42.0%) allocate the highest proportion of their monthly household incomes to bill payments, while Americans in Utah (32.0%), Nebraska (33.0%), and Virginia (33.0%) allocate the lowest proportion of their monthly household incomes to bill payments.

By Family Size:

Two-person American households generate APTHI that’s 2.13x one-person households.

Only life insurance and pension outlay (2.28x) for two-person households are more than double their one-person counterparts. Healthcare (1.93x), entertainment (1.91x), and transportation (1.88x) are near the 2x threshold.

Four-person families only spend 81% of what two-person households spend on alcoholic beverages, and they only spend 84% of what two-person families spend on reading. Likewise, four-person households (0.96x) spend less on healthcare than two-person households.

By Income:

Americans that earn $29,999 or less per year allocate roughly 43% of their annual budgets to housing. Conversely, Americans that earn $100,000 or more per year allocate approximately 32% of their yearly budgets to housing.

Transportation costs for Americans that earn $50,000 to $69,999 per year are 18.0% of their household budgets. Conversely, transportation costs for Americans that make $200,000 or more per year are only 13.3% of their household budgets.

Americans that earn $150,000 to $199,999 per year allocate 1.2% of their household budgets to alcoholic beverages, while Americans that earn $30,000 to $39,000 per year only allocate 0.5% of their household budgets to alcoholic drinks.

Americans that make $200,000 or more per year allocate 5.3% of their household budgets to entertainment, while Americans that earn $50,000 to $69,999 per year only allocate 3.9% of their household budgets to entertainment.

By Gender:

Single men have APTHI of $48,994, while single women have APTHI of $35,530.

The average single male spends $40,350 per year to finance his lifestyle, while the average single female spends $37,100 to fund hers.

Single men spend 2.04x and 2.02x single women on tobacco products and alcoholic beverages.

Single men only spend 41%, 65%, and 77% of what single women spend on personal care, reading materials, and healthcare.

By Race:

Black Americans made up 12.4% of the U.S. population in 2020. However, Black Americans only exceeded 12.4% of the consolidated average household expenditures in apparel and services at 12.5%.

Hispanic Americans made up 18.7% of the U.S. population in 2020. However, their share of consolidated household spending in all categories is below their population average.

Asian Americans made up 6% of the U.S. population in 2020. And Asian Americans account for 10.8% of consolidated household spending on education — well above their population average.

Average Household Budget and Expenses in America 2022: Charts, Graph, Analysis

Average Household Expenses in America 2022

With COVID-19 forcing Americans to change their spending habits, pandemic-related weakness was present in leisure, hospitality, and entertainment expenditures.

For example, the BLS data shows that Americans’ expenditures at restaurants declined by 32.6% YoY in 2020. Similarly, alcoholic beverages fell by 17.4% YoY, clothing fell by 23.8% YoY, and public transportation plunged by 66.3% YoY. Conversely, Americans’ expenditures on reading materials increased by 23.9% YoY, while spending on homemade meals increased by 6.4% YoY.

As expected, Americans allocated the highest proportion of their average pre-tax household income (APTHI) to housing (25.4%), transportation (11.6%), and food (8.7%). Conversely, Americans allocated the lowest proportion of their APTHI to reading materials (0.1%), tobacco and cigarettes (0.4%), and alcoholic beverages (0.6%).

Average Annual Household Expenditure: 2018: 2019: 2020: Average Per Month: Change: % of APTHI:
Housing 20,091 20,679 21,409 1784 3.5% 25.4%
Shelter 11,747 12,190 12,604 1050 3.4% 14.9%
Transportation 9,761 10,742 9,826 819 -8.5% 11.6%
Owned dwellings 6,678 6,797 7,473 623 9.9% 8.9%
Food 7,923 8,169 7,316 610 -10.4% 8.7%
Personal insurance and pensions 7,296 7,165 7,246 604 1.1% 8.6%
Pensions and Social Security 6,831 6,645 6,760 563 1.7% 8.0%
Healthcare 4,968 5,193 5,177 431 -0.3% 6.1%
Food at home 4,464 4,643 4,942 412 6.4% 5.9%
Vehicle purchases (net outlays) 3,975 4,394 4,523 377 2.9% 5.4%
Rented dwellings 4,249 4,432 4,408 367 -0.5% 5.2%
Health insurance 3,405 3,529 3,667 306 3.9% 4.3%
Entertainment 3,226 3,050 2,912 243 -5.8% 3.5%
Food away from home 3,459 3,526 2,375 198 -32.6% 2.8%
Cash contributions 1,888 1,995 2,283 190 14.4% 2.7%
Gasoline, other fuels, and motor oil 2,109 2,094 1,568 131 -25.1% 1.9%
Household operations 1,522 1,570 1,465 122 -6.7% 1.7%
Apparel and services 1,866 1,883 1,434 120 -23.8% 1.7%
Education 1,407 1,443 1,271 106 -11.9% 1.5%
Miscellaneous 993 899 907 76 0.9% 1.1%
Medical services 909 984 864 72 -12.2% 1.0%
equipment 816 821 859 72 4.6% 1.0%
Housekeeping supplies 747 766 837 70 9.3% 1.0%
Personal care products and services 768 786 646 54 -17.8% 0.8%
equipment, and services 614 389 579 48 48.8% 0.7%
Other household supplies 431 458 536 45 17.0% 0.6%
Alcoholic beverages 583 579 478 40 -17.4% 0.6%
Fees and admissions 766 880 425 35 -51.7% 0.5%
Personal services 472 489 347 29 -29.0% 0.4%
Tobacco products and smoking supplies 347 320 315 26 -1.6% 0.4%
Public and other transportation 818 781 263 22 -66.3% 0.3%
Medical supplies 172 194 170 14 -12.4% 0.2%
Reading 108 92 114 10 23.9% 0.1%
Total Average Annual Household Expenditures $61,224 $63,036 $61,334 $5,111 -2.7%  
Average Pre-Tax Household Income $78,635 $82,852 $84,352 $7,029 1.8%  

Historical Average U.S. Household Spending

When smoothing out the data over several years, American wage growth had been outpacing inflation. For example, from the end of 2014 until the end of 2020, average hourly earnings increased at a compound annual growth rate (CAGR) of 3.28%. And lagging the metric, the headline U.S. Consumer Price Index (CPI) rose by a 1.71% CAGR during that same timeframe.

As a result, real (inflation-adjusted) wages in the U.S. grew at a 1.57% CAGR before the pandemic. In a nutshell: the data means that Americans’ incomes had been outpacing their cost of living. And while Americans’ average annual household expenditures have increased by a 2.30% CAGR from the end of 2014 until the end of 2020, real incomes were still in pole position.

However, with the BLS revealing on Dec. 10 that real average hourly earnings declined by 1.9% YoY, inflation now has the upper hand. And while all of the recent price increases will likely elicit a YoY rise in the BLS’ mid-year Consumer Expenditures Survey, how has the data stacked up over the last six years?

Average Annual Household Expenditure: 2014: 2015: 2016: 2017: 2018: 2019: 2020: $ Up/Down:
Housing 17,798 18,409 18,886 19,884 20,091 20,679 21,409 730
Transportation 9,073 9,503 9,049 9,576 9,761 10,742 9,826 -916
Food 6,759 7,023 7,203 7,729 7,923 8,169 7,316 -853
Personal insurance and pensions 5,726 6,349 6,831 6,771 7,296 7,165 7,246 81
Healthcare 4,290 4,342 4,612 4,928 4,968 5,193 5,177 -16
Entertainment 2,728 2,842 2,913 3,203 3,226 3,050 2,912 -138
Cash contributions 1,788 1,819 2,081 1,873 1,888 1,995 2,283 288
Apparel and services 1,786 1,846 1,803 1,833 1,866 1,883 1,434 -449
Education 1,236 1,315 1,329 1,491 1,407 1,443 1,271 -172
Miscellaneous 782 871 959 1,010 993 899 907 8
Personal care products/services 645 683 707 762 768 786 646 -140
Alcoholic beverages 463 515 484 558 583 579 478 -101
Tobacco/smoking products 319 349 337 332 347 320 315 -5
Reading 103 114 118 110 108 92 114 22
Total Average Annual Household Expenditures $53,496 $55,980 $57,312 $60,060 $61,224 $63,036 $61,334 -$1,702

Outpacing the household average, Americans’ spending on cash contributions (4.16%) — which includes outlays like child support, family care, and political/religious donations — pensions/insurance (4.0%), and healthcare (3.18%) recorded the highest increases over the last six years.

On the flip side, Americans’ spending on clothing (-3.59%), tobacco and cigarettes (-0.21%), and personal care products/services (0.03%) recorded the lowest increases over the last six years.

Average U.S. Household Spending by Region

With households in the northeast ($95,329) and the west ($91,964) earning the highest APTHI in the United States, their spending habits are also more extravagant. For example, average annual household spending in the northeast and the west are more than $10,000 higher than in the south. Likewise, both regions also spend over $7,000 more than similar households in the midwest.

Furthermore, households in the northeast and the west also spend more on housing and food than their southern and midwestern counterparts. Conversely, Americans in the south and the midwest allocate higher proportions of their household budgets to transportation and healthcare.

For example, Americans in the northeast and the west allocate 13.2% and 15.2% of their household budgets to transportation. However, Americans in the south and the midwest allocate 17.5% and 17.2%, respectively. Similarly, Americans in the northeast and the west allocate 7.3% and 7.4% of their household budgets to healthcare. However, Americans in the south and the midwest allocate 9.1% and 9.6%, respectively.

Average Annual Household Expenditure: Total: Northeast: Midwest: South: West:
Food 7,316 8,294 6,921 6,477 8,398
Alcoholic beverages 478 587 500 382 539
Housing 21,409 25,195 19,268 19,029 24,548
Apparel and services 1,434 1,800 1,515 1,191 1,496
Transportation 9,826 9,035 10,281 9,745 10,146
Healthcare 5,177 5,006 5,739 5,098 4,916
Entertainment 2,912 3,113 3,368 2,378 3,242
Personal care products/services 646 659 673 568 747
Reading 114 128 113 106 116
Education 1,271 2,368 937 1,069 1,082
Tobacco products/smoking products 315 313 347 339 246
Miscellaneous 907 1,098 808 816 1,007
Cash contributions 2,283 2,632 2,197 2,008 2,561
Personal insurance and pensions 7,246 8,367 7,000 6,591 7,724
Total Average Annual Household Expenditures $61,334 $68,596 $59,667 $55,797 $66,769

Average U.S. Household Spending by State

Breaking down the data by state, Doxo — an online platform that helps Americans streamline their monthly bill payments — analyzed consumers’ spending habits across more than 30,000 zip codes.

For context, Doxo compared Americans’ monthly expenses to their incomes in each state to determine the most affordable and least affordable jurisdictions. In addition, the data tracks the regular monthly outlays that confront most Americans: mortgage payments, rent, utility payments (like heat electricity, cable, internet, phone), auto and insurance payments, home security, and life/health insurance payments.

To that point, Americans in Hawaii ($2,731), New Jersey ($2,562), and California ($2,529) incur the highest monthly expenses in the U.S. Conversely, Americans in West Virginia ($1,485), Arkansas ($1,534), and Mississippi ($1,567) incur the lowest monthly expenses in the U.S.

However, for a more accurate depiction, it’s essential to analyze Americans’ monthly expenses as a proportion of their monthly incomes. And with Americans in Louisiana (45.0%), Florida (42.0%), and Montana (42.0%) allocating the highest proportion of their monthly household incomes to bill payments, their relative cost of living is the highest in the U.S.

On the flip side, with Americans in Utah (32.0%), Nebraska (33.0%), and Virginia (33.0%) allocating the lowest proportion of their monthly household incomes to bill payments, their relative cost of living is the lowest in the U.S.

State: Amount Spent Per Month: % of Household Income: % Above/Below the National Average:
Hawaii $2,731 41.0% 44.6%
New Jersey $2,562 36.0% 35.7%
California $2,529 39.0% 33.9%
Alaska $2,484 38.0% 31.5%
Massachusetts $2,464 36.0% 30.5%
Maryland $2,356 33.0% 24.7%
Connecticut $2,311 34.0% 22.3%
New York $2,252 37.0% 19.2%
Washington $2,199 36.0% 16.4%
New Hampshire $2,188 34.0% 15.8%
Colorado $2,147 36.0% 13.7%
Rhode Island, $2,147 39.0% 13.6%
Wyoming $2,107 41.0% 11.5%
Virginia $2,101 33.0% 11.2%
Vermont $2,073 41.0% 9.8%
Oregon $2,071 40.0% 9.6%
Minnesota $2,007 34.0% 6.3%
Florida $1,943 42.0% 2.9%
Illinois $1,934 34.0% 2.4%
Nevada $1,928 39.0% 2.1%
Wisconsin $1,923 38.0% 1.8%
Delaware $1,904 34.0% 0.8%
Maine $1,900 40.0% 0.6%
Texas $1,883 36.0% -0.3%
Utah $1,844 32.0% -2.4%
Montana $1,835 42.0% -2.8%
North Dakota $1,835 35.0% -2.9%
Georgia $1,833 38.0% -3.0%
Louisiana $1,832 45.0% -3.0%
Arizona $1,829 37.0% -3.1%
Iowa $1,789 36.0% -5.3%
North Carolina $1,768 39.0% -6.4%
Pennsylvania $1,767 34.0% -6.4%
Michigan $1,734 36.0% -8.2%
Kansas $1,727 34.0% -8.6%
Idaho $1,698 38.0% -10.1%
South Dakota $1,691 36.0% -10.5%
South Carolina $1,690 39.0% -10.5%
Ohio $1,666 35.0% -11.8%
Tennessee $1,663 38.0% -11.9%
Nebraska $1,663 33.0% -12.0%
Alabama $1,655 40.0% -12.4%
Kentucky $1,622 39.0% -14.1%
Oklahoma $1,619 37.0% -14.3%
Missouri $1,612 34.0% -14.7%
New Mexico $1,608 40.0% -14.8%
Indiana $1,597 34.0% -15.5%
Mississippi $1,567 42.0% -17.0%
Arkansas $1,534 40.0% -18.8%
West Virginia $1,485 39.0% -21.4%

Average U.S. Household Spending by Family Size

As you may have guessed, larger households often incur more expenses. However, BLS data shows that American families with five or more members spend less per year than comparable households with only four members. And while the findings contradict logical expectations, we’ll take the BLS’ word for it.

However, many interesting tidbits of information are still present: for example, two-person American households generate APTHI that’s 2.13x one-person households. In a nutshell: the data means that two-person families have combined annual pre-tax income that’s more than double one-person households.

However, when analyzing their relative expenditures, only life insurance and pension outlay (2.28x) for two-person households are more than double their one-person counterparts. As expected, healthcare (1.93x), entertainment (1.91x), and transportation (1.88x) are near the 2x threshold. Conversely, housing (1.40x) highlights the cost savings that couples achieve relative to single persons.

In addition, exciting findings were also present when comparing two-person households with four-person households. For example, four-person families only spend 81% of what two-person households spend on alcoholic beverages. And with most two-person homes consisting of two adults, while four-person households often include children, the data makes logical sense. Likewise, four-person households (0.96x) spend less on healthcare than two-person households. And with family care bundles likely the main driver of the savings, sometimes more is less.

Finally, the strange outlier is that four-person households only spend 84% of what two-person families spend on reading. With children often present in four-person homes, this metric should be higher.

Average Annual Household Expenditure: 1-Per: 2-Per: 3-Per: 4-Per: 5-Per+:
Food 4,470 7,802 8,980 11,033 11,474
Alcoholic beverages 383 708 478 572 386
Housing 15,240 21,306 23,356 27,226 26,434
Apparel and services 992 1,520 1,808 2,716 2,580
Transportation 5,504 10,367 12,864 15,049 14,325
Healthcare 3,273 6,305 5,686 6,065 5,383
Entertainment 1,816 3,475 3,272 4,014 3,603
Personal care products/services 454 787 765 956 903
Reading 87 128 83 107 93
Education 632 1,107 2,211 2,337 1,882
Tobacco products/smoking products 230 331 386 352 395
Miscellaneous 683 1,018 905 1010 1,047
Cash contributions 1,576 2,838 1,638 1,848 2,630
Personal insurance and pensions 3,238 7,372 9,514 11,312 10,012
Total Average Annual Household Expenditures $38,577 $65,063 $71,944 $84,595 $81,146

Average U.S. Household Spending by Income

When analyzing the BLS’ data across income brackets, it’s clear that the wealthy have more fun than the lower and middle classes.

For example, Americans that earn $29,999 or less per year allocate roughly 43% of their annual budgets to housing. Conversely, Americans that earn $100,000 or more per year allocate approximately 32% of their yearly budgets to housing. Similarly, transportation costs for Americans that earn $50,000 to $69,999 per year are 18.0% of their household budgets. Conversely, transportation costs for Americans that make $200,000 or more per year are only 13.3% of their household budgets.

Average Annual Household Expenditure: All Incomes: <$15,000: $15,000-$29,999: $30,000-$39,999: $40,000-$49,999:
Housing 21,409 12,163 13,483 15,404 16,942
Transportation 9,826 4,388 4,666 6,491 7,378
Food 7,316 4,226 4,087 5,756 5,783
Personal insurance and pensions 7,246 454 997 2,130 3,106
Healthcare 5,177 2,267 3,594 4,180 4,386
Entertainment 2,912 1,075 1,395 2,101 1,811
Cash contributions 2,283 678 906 1,589 1,232
Apparel and services 1,434 796 779 851 1,160
Education 1,271 1,020 283 426 360
Miscellaneous 907 416 500 614 681
Personal care products/services 646 289 345 464 495
Alcoholic beverages 478 124 184 216 320
Tobacco products/smoking products 315 300 289 368 353
Reading 114 41 94 100 74
Total Average Annual Household Expenditures $61,334 $28,235 $31,604 $40,689 $44,081

Continuing the theme, Americans that earn $150,000 to $199,999 per year allocate 1.2% of their household budgets to alcoholic beverages. On the flip side, Americans that earn $30,000 to $39,000 per year only allocate 0.5% of their household budgets to alcoholic drinks. Likewise, Americans that make $200,000 or more per year allocate 5.3% of their household budgets to entertainment. Conversely, Americans that earn $50,000 to $69,999 per year only allocate 3.9% of their household budgets to entertainment.

Average Annual Household Expenditure: $50,000-$69,999: $70,000-$99,999: $100,000-$149,999: $150,000-$199,999: $200,000+:
Housing 18,511 21,926 26,257 32,804 46,591
Transportation 9,225 11,098 14,888 14,404 19,397
Food 6,026 7,475 9,901 11,002 14,066
Personal insurance and pensions 4,625 7,327 11,885 16,539 27,429
Healthcare 4,958 5,745 6,508 7,662 8,997
Entertainment 2,004 2,694 4,331 5,236 7,654
Cash contributions 1,923 2,695 2,587 3,829 7,102
Apparel and services 1,208 1,145 2,037 2,276 3,405
Education 688 893 1,494 2,426 5,901
Miscellaneous 759 1,059 1,186 1,656 1,750
Personal care products/services 539 652 934 961 1,400
Alcoholic beverages 350 444 610 1,228 1,261
Tobacco products/smoking products 367 351 305 250 190
Reading 102 90 127 210 259
Total Average Annual Household Expenditures $51,285 $63,592 $83,050 $100,484 $145,402

Average U.S. Household Spending by Gender

With BLS data showing that single men have APTHI of $48,994 and single women have APTHI of $35,530, the former’s annual household budget exceeds the latter.

For example, the average single male spends $40,350 per year to finance his lifestyle, while the average single female spends $37,100 to fund hers. For context, BLS data shows that single females’ average household budget exceeds their average APTHI. And according to the BLS, single women who earn $39,999 or less per year spend more money on household expenses than they make in pre-tax income. Conversely, only single men with APTHI of $29,999 per year or less spend more than they earn.

Interestingly, though, spending habits differ materially across genders. For example, single men spend 2.04x and 2.02x single women on tobacco products and alcoholic beverages, respectively. Likewise, they also allocate 1.58x to their pensions and insurance products.

Conversely, single men only spend 41%, 65%, and 77% of what single women spend on personal care, reading materials, and healthcare. Likewise, single men only spend 83% of what single women spend on clothing and apparel.

Average Annual Household Expenditure: Single Men: Single Women:
Housing 15,216 15,253
Transportation 6,372 4,781
Food 4,744 4,250
Personal insurance and pensions 4,047 2,564
Healthcare 2,823 3,648
Entertainment 2,106 1,577
Cash contributions 1,701 1,471
Apparel and services 889 1,072
Miscellaneous 684 683
Education 600 659
Alcoholic beverages 531 263
Tobacco products/smoking products 318 156
Personal care products/services 252 618
Reading 67 103
Total Average Annual Household Expenditures $40,350 $37,100

Average U.S. Household Spending by Race

The BLS organizes the data by percentages from a racial perspective and outlines what proportion each race and category contributes to the consolidated average.

For context, White Americans are grouped with ‘all other races,’ while Hispanic, Asian and Black Americans are categorized individually. Moreover, when interpreting the data, it’s best to analyze the results relative to each race’s proportion of the U.S. population.

For example, the U.S. Census Bureau released its 2020 Census on Aug. 12. And the data shows that Black Americans made up 12.4% of the U.S. population in 2020. However, Black Americans only exceeded 12.4% of the consolidated average household expenditures in apparel and services at 12.5%. Moreover, their share of consolidated household spending is below their population average in all other groupings.

For context, the BLS data shows that Black Americans 16 years or older earned $799 in median weekly earnings in the third quarter of 2021 — the second-lowest among all ethnic groups and 20% below the racial average. As a result, lower household incomes help explain the lower share of consolidated household expenses.

Similarly, Hispanic Americans made up 18.7% of the U.S. population in 2020. However, the BLS data shows that Hispanic Americans 16 years or older earned $779 in median weekly earnings in the third quarter of 2021 — the lowest among all ethnic groups and 22% below the racial average. In addition, and unsurprisingly, their share of consolidated spending in all categories is below their population average.

Interestingly, Asian Americans made up 6% of the U.S. population in 2020. And the BLS data shows that Asian Americans 16 years or older earned $1,309 in median weekly earnings in the third quarter of 2021 — the highest among all ethnic groups and 31% above the racial average.

Moreover, Asian Americans exhibit prudent spending habits. For example, Asian Americans account for 10.8% of consolidated household spending on education — well above their population average. Similarly, the only other categories that exceed Asian Americans’ population are spending on food (6.2%) and pensions/insurance (6.5%).

Household Expenditures: Hispanic: Asian: Black: White + All Other Races:
Food 13.2% 6.2% 10.4% 70.2%
Alcoholic beverages 7.3% 3.6% 6.1% 83.0%
Housing 13.0% 5.6% 11.2% 70.2%
Apparel and services 15.7% 5.0% 12.5% 66.8%
Transportation 14.7% 4.0% 10.8% 70.5%
Healthcare 9.0% 4.5% 9.0% 77.5%
Entertainment 8.4% 3.3% 6.7% 81.6%
Personal care products/services 12.7% 5.6% 11.3% 70.4%
Reading 7.3% 4.4% 8.0% 80.3%
Education 6.0% 10.8% 8.1% 75.1%
Tobacco products/smoking products 7.7% 2.7% 9.9% 79.7%
Miscellaneous 11.4% 4.6% 9.5% 74.5%
Cash contributions 6.3% 2.7% 6.9% 84.1%
Personal insurance and pensions 11.3% 6.5% 9.5% 72.7%

How We Conducted The Study

ElitePersonalFinance always has up-to-date studies.

Our goal is to consolidate the information and present the findings in a way that’s easy to understand by parsing through the latest data from reliable sources. If you enjoyed the study, please provide your feedback. Moreover, if there is anything that we missed or anything that you believe needs updating, please let us know, and we will respond promptly.

Conclusion

With COVID-19 forcing many Americans to shift their household expenditures from leisure and entertainment to the at-home experience, spending on categories that typically exhibit growth were underperformers in 2020. However, with the threat of the virus receding, these laggards will likely become leaders when the BLS releases its mid-year update in 2022. Conversely, with inflation still surging, Americans’ finances may suffer unless the pricing pressures abate. As a result, 2022 should be even more interesting than 2021.

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