How much do people spend at different ages in the United States?

Consumers on average around $63,000 but depending on the age it can range from just under $40,000 (25 and under) to close to $80,000 (45 to 54 year olds).

Detailed spending data for 2019:

The BLS (U.S. Bureau of Labor Statistics), conducts surveys and publishes the data on their website (https://www.bls.gov/cex/). Below is a graph I compiled to show the different groups.

A consumer is considered a household (from their website: "A consumer unit consists of any of the following: All members of a particular household who are related by blood, marriage, adoption, or other legal arrangements"). The graph was created using python's plotly package https://plotly.com/

Its quite interesting that it increases to about age 50 then slowly comes down. My opinion is that this is due to people starting families and decreasing as children leave the nest. With a growing concern for our aging population, I hope society and governments figure this out and offer more financial support for young families as it seems we could have a big issue and large amount of stress for people that understand how much it will cost them financially to have children.

see below for a comparison of the average vs the top 10%

https://www.unpackinvesting.com/2021/08/spending-too-much-or-too-little_0645791283.html

Comments

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