The most recent survey was conducted from January to December 2020 and released in September 2021.
The BLS conducts an annual Consumer Expenditure Survey to better understand personal finance on a household level. Read on to learn more about the typical monthly expenses for Americans, how the costs break down and how your spending compares. However, this latest figure is from 2020, and given the inflation situation, this figure has likely increased over the past two years. The added spending may even affect people's average net worth as they're less able to save for down payments on homes, retirement and other financial goals.Īccording to the Bureau of Labor Statistics (BLS), the average household spends $5,111 each month on housing and other monthly expenses. This increase in cost of living may result in a spike in monthly spending for many American households. In fact, over the last 12 months, consumer prices - a broad measure of inflation - rose to 9.1%, which is the biggest increase in four decades. The continued impact of the pandemic, including labor shortages and supply chain disruptions, has increased the cost of food, housing, fuel and more. The cost of living is going up - and so are Americans’ monthly expenses.
Housing, transportation and healthcare costs are some of the top expenses.The average American household spends $5,111 each month.
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