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How much average american spends daily?

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  • While your spending is tailored to your individual earnings and priorities, it doesn’t hurt to use the average American as a financial gauge.

    You might be proud of your uncanny ability to find hidden gems at thrift shops or take advantage of the steepest retail discounts, saving heaps of money on clothing in the process.

    However, if you’re also spending significantly more than the rest of America on things like education, child care or car insurance, you could be falling behind in terms of reaching your financial goals.

    GOBankingRates rounded up 25 common expenses and used data from the U.S. Census Bureau, the National Retail Federation and more to find out how much consumers typically spend on everyday items.

    The different expenses ranged from holiday gifts and subscription services to charitable donations and mortgage payments. In some cases, the figures were shocking. For example, Americans spend more on coffee than they do on their auto insurance — in fact, caffeine consumption accounts for over $1,000 in the average consumer’s expenditures.

    The final coffee bill is startlingly close to how much people spend on their cellphone services in a given year.

    If you think that dropping $1,100 on coffee every year is perfectly acceptable, you should consider cutting back in other areas to fuel your caffeine habit without hurting the rest of your budget. While it’s difficult to bring down your rent or mortgage payments on your own, you might find that tackling controllable expenses — like dining out and entertainment — can help you save hundreds, if not thousands, of dollars annually.

    Holiday Food and Decorations
    What the average American spends annually: $231

    Subscription Services
    What the average American spends annually: $3,279

    Alcohol
    What the average American spends annually: $478

    Holiday Gifts
    What the average American spends annually: $648

    Pets
    What the average American spends annually: $690

    Entertainment Fees and Admission
    What the average American spends annually: $425

    Public Transportation
    What the average American spends annually: $263

    Vehicle Maintenance and Repairs
    What the average American spends annually: $879

    Vehicle Insurance
    What the average American spends annually: $1,575

    Miscellaneous
    What the average American spends annually: $907

    Coffee
    What the average American spends annually: $2,130

    Cellphone Services
    What the average American spends annually: $1,253

    Education
    What the average American spends annually: $1,271

    Health and Fitness (Including Gym Memberships)
    What the average American spends annually: $1,860

    Clothing and Apparel
    What the average American spends annually: $1,434

    Charitable Donations
    What the average American spends annually: $2,283

    Gasoline
    What the average American spends annually: $1,568

    Health Insurance
    What the average American spends annually: $3,667

    Dining Out
    What the average American spends annually: $2,375

    Utilities
    What the average American spends annually: $4,158

    Groceries
    What the average American spends annually: $4,942

    Retirement Account Contributions
    What the average American spends annually: $6,760

    Child Care (Infant)
    What the average American spends annually: $10,368

    Rent
    What the average American spends monthly: $1,789

    Mortgage Payments
    What the average American spends annually: $17,844

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