How Does Your Family Spend Money?
This post may contain affiliate links. Please read my disclosure page for more info.
Happy Monday everyone! As today is my birthday I really did not want to bore everyone with verbose prose on some sort of personal finance topic. So, what better way to communicate than through an infographic? A lot has been said about the middle class and where they stand (how they spend money), especially in light of the economic headwinds we’ve faced over the last five years. I like this infographic because it shows how the “average” middle class American family spends its money. Although I was not surprised by the following statistics, they did grab my attention:
- Only 3.2% of income is saved for retirement
- The middle class has shrunk by 11% since 1970
- The savings rate is abysmally low at 3.5%
- Student loan debt continues to increase
What are your thoughts? Did anything stick out to you, or was it of no surprise? How does your family spend money?
Latest posts by John Schmoll (see all)
- Ready to Pay off Your Debt for Good? Here’s What to Do Next - September 18, 2017
- 5 Things I’ve Learned About Money in 5 Years of Blogging - September 11, 2017
- Betterment Review: Get 12 Up to Months Commission Free! - August 30, 2017