Chart 75 Years Of How Americans Spend Their Money Food is now only the third most important spending category for americans at $6,759 per year, and only 1.6% of americans now work agriculture, according to the world bank. housing has also changed dramatically over time. while it has always been a key component of spending, shelter was actually cheaper ($7,537 per year) than putting food on the. At the same time, americans began spending more on education, transportation and healthcare. spending on education has increased far more than any other category, jumping from $242 in 1941 to $1,236 in 2014. education spending increased at a particularly fast rate between 1984 and 1994 and onward. while spending on healthcare increased between.
Visualizing How Americans Spend Their Money In 2021, the average american spent just over $60,000 a year. but where does all their money go? unsurprisingly, spending habits vary wildly depending on age. this graphic by preethi lodha uses data from the u.s. bureau of labor statistics to show how average americans spend their money, and how annual expenses vary across generations. Over the next 100 years, the u.s. family got smaller, more reliant on working women and computers, less reliant on working children and farms, and, most importantly, much richer. about 68 times. The $5,091 spent by the 75 and older group was statistically different from the amounts spent by the other age groups. (see table 2 and chart 1). the share of the household budget devoted to healthcare increased with the age of the reference person, from 8.8 percent for the 55–64 age group to 15.6 percent for the 75 and older group. Americans spent the most on clothing in 1961 for an average of $4157. in every year measured since 1961, spending on clothing fell, even when accounting for inflation. at the same time, americans began spending more on education, transportation and healthcare. spending on education has increased far more than any other category, jumping from.
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