When you land your first job in high school typically you are still living at home and maybe you are even lucky enough to still be on your parent's cell phone plan. So where is your money going? If you have a car then you are paying for gas. A lot of your money may be going to buying food and ice coffees with friends. Movies and other activities that when you are older you don't have time for. In college a lot of your money will go to your education, living situation, if you are of drinking age then your money may be spent out at the bars. After college your spending habits change again, maybe you have purchased your first house and you are starting to put money away for retirement. As you get older all of your spending responsibilities change.This graphic from the team at SwagBucks shows exactly how spending expenditures change by age group in the US. Below is the average yearly spending of a person in America:
1) Housing: $20,679 (32.8% of expenditures)
2) Transportation: $10,742 (17.0%)
3) Food: $8,169 (13.0%)
4) Personal Insurance and Pensions: $7,165 (11.4%)
5) Health Care: $5,193 (8.2%)
6) Entertainment: $3,090 (4.9%)
7) Cash Contributions: $1,995 (3.2%)
8) Apparel and Services: $1,883 (3.0%)
9) Education: $1,443 (2.3%)
10) Miscellaneous: $899 (1.4%)
11) Personal Care and Services: $786 (1.2%)
12) Alcoholic Beverages: $579 (0.9%)
13) Tobacco and Smoking Products: $320 (0.5%)
14) Reading: $92 (0.1%)
Infographic by: swagbucks
