Americans Spend Majority of Money on These 3 Areas

concerned-senior-couple-looking-at-their-laptop_573x300

As we all know, daily expenses can add up. Even as we enter our golden years of retirement, if we haven’t planned properly, the pressure of balancing the family budget can be as heavy as when we were in our younger years trying to make ends meet.  If you are losing sleep at night trying to figure out how to save money, there are a few different areas on which you can focus when trying to cut your costs and get serious about saving.

The first thing that you need to realize is that there are three main areas, on which you must focus if you want to try and save on expenses:

  • Housing
  • Transportation
  • Food

Americans spend the bulk of their money in: housing, transportation, and food.  In fact, combined, these 3 categories account for about $35,000 — or 62% — of the $56,000 dollars that households spend (on average) each year, according to the Bureau of Labor Statistics.

Take a look at the chart below, provided by the Bureau of Labor Statistics as to where the majority of Americans, spend their money, Again, the average American family spends about $56,000 per years on household expenses.

chart

  • The first thing you can do, to try and cut costs is to downsize into smaller home. Not only can you reduce your mortgage payment  but you may also be able to capitalize on equity that you have accumulated in your house.
  • Consider the purchase or lease of a car or a house is a longer-term commitment.
  • With food, you can make some pretty immediate changes to trim costs, like shopping in bulk and cooking at home.
  • Find the discounts whenever you go shopping.
  • Get rid of any extra cars or payoff your current vehicle as to not have any recurrent bills.

See more from US News and World Report.

Retirement should mark the “recess years” of one’s life. You should be spending your time having fun and doing the things that you always wanted to do while you were working but couldn’t. You worked a lifetime for your retirement savings; you earned it for a lifetime; shouldn’t you be able to keep it for the remainder of your life?  If you have questions about how to make the most of your retirement and would like to get educated on how to safeguard your retirement nest-egg, then you need to get educated on the exclusive Crash Proof Retirement System.

If you are in or near retirement, wouldn’t you like to lock in the gains you’ve made on the stock market and never have to worry about another crash or downturn?  There is a safe and guaranteed alternative to the risk, corruption and fees within the securities industry, and it’s called the exclusive Crash Proof Retirement System. If you’re worried about losing any part of your retirement nest-egg then let Phil Cannella and Joann Small educate you on the exclusive Crash Proof Retirement System. This proprietary system is designed so that when the market goes up, your accounts can experience gains, but when the market goes down or crashes, your accounts stay even; You never lose a penny of your principal and that’s guaranteed! Get educated on the proprietary Crash Proof Retirement System at the next Crash Proof event!

Register here.

There is no cost…No obligation…Just a Crash Proof Education from the creator of the exclusive Crash Proof System-Phil Cannella, and the CEO of Crash Proof Retirement- Joann Small.

See what you’ll learn at a Crash Proof Retirement Educational Event. Watch below.

email

Leave a Reply

Your email address will not be published. Required fields are marked *