I'm not really sure who or what the "average American" is, but this is how he/she/it spends his/her/its money over the course of a year. Note that this isn't meant to convey where Americans allocate their money each year because there is no spot for savings. Though with an negative savings rate for the last two years, the average American would need to give some of that wonderful infographic pie back each year.
Hat tip to The Big Picture as always for his wonderful posts.
1 comment:
It is so easy to get into debt in this society. Many consumers like to indulge themselves with the mentality of “buy now and pay later”. They borrow money to take a vacation. They borrow money to throw a big party. They borrow money to buy a big car. They borrow money to buy all the unnecessary stuff just to amuse themselves. They never learn and are unwilling to learn how to save or put aside for the rainy day. They are paying high interest for the stuff with a large credit card debt. You get the picture.
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