• Skip to primary navigation
  • Skip to main content
  • Skip to footer
Schedule Appointment Client Portal Login

Wisdom Wealth Strategies

Your Retirement Financial Advisors Denver Colorado

  • Home
  • About us
  • Financial Planning
  • Investment Management
  • Tax Planning
  • In The Media
  • Blog & Social
  • Contact Us

Spending Categories

Blog & Social Media   |   Featured   |   Spending Categories

Spending Categories

Creating a spending plan is an excellent exercise, but do you feel that it would be helpful to know how your spending stacks up with other households or if the amount you spend in a particular category is “reasonable”? As it turns out, you’re not the only one who thinks such information would be helpful. Each year since 1980, the U.S. Bureau of Labor Statistics (BLS) has conducted a survey to determine where Americans spend their money. The BLS tracks a wide variety of spending categories, but we’ll highlight only the largest. The following are the spending habits reported in February 2015 for calendar year 2013:

CATEGORYPERCENTAGE OF AFTER-TAX INCOME
Housing33.6
Transportation17.6
Food12.9
Healthcare7.1
Entertainment4.9
Apparel and Services3.1
Education2.2
Personal Care Products and Services1.2

Source: U.S. Bureau of Labor Statistics. http://www.bls.gov/cex/

We encourage you to determine how your spending compares. Simply divide the dollar amount of each spending category by your annual after-tax income. Don’t have a spending plan? Use our template as a guide. You can access it on our website, www.WisdomWS.com, or by clicking here.

Filed Under: Featured, Financial Planning

Interested in Working Together?

We’d love to learn more about your financial needs and answer any questions you have about our practice.

Request a Consultation

Footer

Certified Financial Planner

Social

See what we’re up to by following along on social media.

  • Facebook
  • LinkedIn
  • Twitter

Contact

Get directions
(720) 314-8009

Newsletter

Stay up to date by subscribing to our newsletter.

  • Disclosure
  • Form CRS

Copyright © 2022 Wisdom Wealth Strategies, LLC. All Rights Reserved.
Wisdom Wealth Strategies, LLC is an SEC-registered investment adviser. Our firm is notice filed in Colorado and Texas, and may be exempt from notice-filing in other jurisdictions where we serve our clients.


Site Crafted by HOTFIRE CREATIVE