Average monthly spend

[Anonymous]

According to the BLS this is the average monthly spend by household in 2021:

1-person: 41k
2-person: 69k
3-person: 79k
4-person: 93k

Probably need to add about 10% to those for 2023.

[Anonymous]

This is clearly annual spend, not monthly.

[Anonymous]

Since the average income is $70K/yr this implies that the average family size is close to 2 even if income = spend. There are problems with these numbers even if it is annual. Source is needed because the numbers don't smell right.

[Anonymous]

2021 Consumer Expenditures Survey

Year it’s annual: https://www.nerdwallet.com/article/finance/monthly-expenses-single-person-family

[Anonymous]

Anonymous wrote:According to the BLS this is the average monthly spend by household in 2021:

1-person: 41k
2-person: 69k
3-person: 79k
4-person: 93k

Probably need to add about 10% to those for 2023.

What's the median? Average is brought up by the very high spenders, whereas the low can only go so low.

[Anonymous]

Wow that's encouraging. Thanks for that data. We're 6 people and I've felt like our spend has exploded over the past 2 years. We spend $8k/month.

[Anonymous]

Np, and one person household, and my average spend per month is $3800.

[Anonymous]

Anonymous wrote:Since the average income is $70K/yr this implies that the average family size is close to 2 even if income = spend. There are problems with these numbers even if it is annual. Source is needed because the numbers don't smell right.

No, it’s just that high income families spend so much more that it brings up the average up well above average/median household incomes. My family of 3 typically spends between 110-140k annually (including major purchases like cars and major home repairs like installing a/c and replacing the roof, child care, student loans, mortgage payments, charitable contributions, and travel).

[Arlingtonian703]

Anonymous wrote:According to the BLS this is the average monthly spend by household in 2021:

1-person: 41k
2-person: 69k
3-person: 79k
4-person: 93k

Probably need to add about 10% to those for 2023.