I’m curious about average annual spending habits. How much does the average person typically spend in a year on essential and non-essential expenses? Are there any recent statistics or benchmarks that provide insight into typical spending patterns?
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The average household spent $72,967 in 2022, according to a U.S. Bureau of Labor Statistics poll. This comprises the average expenditures of $12,295 on transportation, $9,343 on food, and $24,298 on housing. The average monthly cost for an individual was $3,693, which translates to $44,312 yearly. This was an increase from 2021 of 8.5%, or $287.75 per month.