How Do You Spend Your Money?

P4P045-ConsumerExpendituresReport

Todd Strobel and Kim D.H. Butler take a look at the U.S. Bureau of Labor Statistics report on how the average American spends their money. Todd goes over the demographics and how it reflects the “average” American. Kim explains what each category means and what the numbers are indicative of. Finally, they look over the most troubling numbers of all regarding Americans life insurance and pension expenditures.

What do the spending trends reveal? Do you know how your spending stacks up? Find out on today’s episode of the Prosperity Podcast.

If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!

Show Notes:

[0:00] Prologue

[0:19] Intro

[0:35] Overview

[1:17] A Look at the Demographics

[1:48] Owning and Renting Residences

[4:01] A House As An Investment

[5:09] Annual Costs of Dwellings

[6:29] Food At and Away From Home

[8:07] Transportation Costs

[10:04] Health Care Expenditures

[11:53] Personal Insurance and Pensions

[15:46] Insurance Summary

[16:13] Entertainment vs. Education

[17:26] Wrap-Up

[18:13] Outro

Tweetables:

When you don’t own real estate, you lose one last tax deduction available to you being the mortgage interest reduction. Click To Tweet “You can change how you spend your money based on your priorities.” -Kim D.H. Butler Click To Tweet In 401(k)s, people are subject to stock market fluctuation and mutual fund fees that erode wealth and create opportunity costs. Click To Tweet

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