Average Monthly Expenses

Monthly Expenses change as you get older. They grow as you have kids, purchase homes and cars. The trend shows a steep climb and then a drop off as you grow into your retirement years and beyond. Kids leave the house, your needs and expenses tend to reduce. We show this as a comparison of the U.S averages found by the Bureau of Labor Statistics in 2023. One of the scarier parts of this is That household expenses grow into the $80,000 and $90,000 range but the average household income in the U.S. is closer to $75,000. This means on average a lot of people are living well above their means.