Where Does All You Money Go?
 

Been interested in spend and cost analysis for some time. Here are some interesting stats. Think its accurate?

in 2006, The average household income before taxes
Poorest 20%: $9,168
Middle 20%: $41,614
Richest 20%: $132,158
The average American household makes $54,453 a year before taxes.

Average annual expenditures
Poorest 20%: $17,837
Middle 20%: $36,980
Richest 20%: $83,710
The average American household spends $43,395 a year.

How Americans Make And Spend Their Money - Forbes.com




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My last commercial landlord owned a trucking company. We were sharing beers one night, and he was telling stories of how good he had it in the 70's. He said that he was making well over 150k a year, and he told me he spent most of it partying with hookers and blow. He then stated that he just wasted the rest of it on bills and and stuff.

Probably as accurate as anyone else's guess as to where all your money goes. I just figured I had a slow leak in my account all these years!

My wife doesn't understand. She thinks it will all be ok.

Savings, business-related expenses, housing, utilities, transportation and insurance. Pretty much in that order. I'm leaving out the hookers & blow for now.

I'm not actually sure.

I don't spend anything on housing, it makes money for me.

I don't buy grocieries, as my GF buys those as a "thanks" for living at my house while she rents hers out.

I don't spend money on cars as I drive a Corolla which requires almost zero maintenance and the SC, well it's an SC, say no more :)

I reload my own ammo.

Electricity and gas is split three ways at my house so costs very little.

Levis and t-shirts don't cost much.

I'm not really much of a drinker although I have tried.

I don't even pay for internet as I WiFi to the house next door LOL

And I've got no idea where the money is going.

The reL question is, "how much is just wasted money?"

Define "wasted."

Smokes, soda, gambling, junk food etc.

Don't leave taxes out of the equation. Federal, State, Local, "fees", and other hidden taxes easily take more than 50% of this nation's private sector output...

health care is my largest expense after the mortgage - most of that is health ins.

Ive been keeping track for years. My biggest expense is taxes and insurance.

Taxes, mortgage, insurance, in that order.

Glad you didn't mention gin and cars.:D

Hookers and blow.

And spoons.

+1, but let me add KIDS! Holy Crap they are EXPENSIVE! At least mine are! Not on there from my quick overview..

I think this is a funny time. Because lifestyle is in a fluid/changing motion right now. What I mean by that is there a a bunch of people on pension plans where there are a lot of newbies that have to save for their retirement (401k). My point is that there are people making less without having to invest and have disposable income where newer/younger workers may be making more and have to invest in their retirement and end up with less disposable income. Based on that this study may be flawed..

Mortgage, Insurance and..Buffets...

Well actually spoons...

I'm in the same boat.
But it's not a problem of note,
since I manage to stay afloat.

And...quite happily, I gloat. :D

I pretty much stay away from booze and drugs...but cars, computers, and cell phones are pretty expensive...as is travelling or eating out at a restraurant...with a woman.

Transportation is the biggest ripoff of them all. $1000 a year for insurance. $1500 a year for gas (25 mpg/15k/$2.50). Car payment is $3,600 a year for my Mazda 3. $150 for oil changes. $100 for reg/safety.

$6,350 just to drive a freaking car around. That is insane.

I can't wait until my car is paid off. No more car payments and I can lower my insurances cost.

$100 for reg/safety.

Try $500 to register my 08 Camry in CA. Plus $300 for an 04 Highlander, $100 for an 84 Targa, and $100 for a 96 camping trailer.

Have to agree on the car costs...although it is one expense that I really can justify due to the fact that it is also my entertainment. I have no car payments, but with 7 cars and a car trailer, the registration, taxes, emssions inspections, and insurance are pretty expensive...not to mention upkeep and maintenance. I have no tickets and only liability insurance, and a very inexpensive insurer (USAA), so I save a lot there....but it still adds up...especially with the cost of premium gas these days.

Maybe women, booze and drugs would be a cheaper hobby.