![]() However, you won’t get adequate care if you can’t afford the bills, you won’t get adequate care (or you’ll have to shell out a lot if you need emergency treatment). The US healthcare system is world-class for those with insurance or cash to pay privately. Regardless of where you live in America, you need comprehensive health insurance. Source: US Bureau of Labor Statistics Healthcare However, grocery spending increased by 6.4%. In this category, spending dropped by 32.6%. On average, Americans spent more than $1,000 less on eating out. It will probably come as no surprise to anyone considering the circumstances in 2020: people avoided dining out due to the COVID pandemic. One reason for that drop in food spending is very apparent. On the national level, food spending went down by 10.4% from 2019 to 2020. Purchasing food includes buying groceries and paying someone else to prepare it for you away from home. The True Cost of Owning a Car in NYC Food Read this guide on the cost of owning a car in the US. Here’s a more detailed look at the transportation costs in the United States: Transportation expense In addition, auto insurance may be a monthly or biannual expense, depending on your chosen payment schedule. Moreover, it’s not common for people to purchase new vehicles, but when they do, it can be an extremely expensive purchase. Maintaining and repairing the car every month isn’t necessary, but they add up to $879 per year. Since some of the bigger expenses are intermittent, it’s easy to overlook how much we spend on transportation. There has been an 8.5% decrease in the national average spending on transportation between 20. How Much Does a House Cost in California in 2023? Transportationĭespite the fact that transportation is the second-largest monthly expenditure, Americans have been spending less on it in recent years. Also, the size of the house and whether you have housemates can affect your spending on housing. However, it will really depend on your living situation.įurthermore, the cost of housing can range from under $1,000 to over $3,000, depending on your location in the United States. The average American spends $1,784 on housing per month, with $1,050 going towards housing payments. Restaurants and other meals away from homeĪccording to the 2020 Consumer Expenditure Survey, housing is the most significant living expense by a wide margin, and its cost increased by 3.5% in the same year. Here is a breakdown of what families in the United States usually spend according to the Bureau of Labor Statistics: Item Let’s further elaborate on these expenses. Typical expenses include major expenses like mortgage payments and groceries to minor expenses like clothing. ![]() But the question is, where do families spend this money on? Moreover, when you average all monthly expenses values from the different family sizes, we will get $5,253 monthly or $63,036 annually. But, according to the Bureau of Labor Statistics, the explanation roots in the nature of the statistical estimates. Looking at the table, you might be amazed and confused to see that a family of five has lower monthly expenses compared to a family of four. The table below shows the average monthly expenses for each family size according to the Bureau of Labor Statistics. A household can also have extended family members, such as grandparents and other unrelated people. The Consumer Expenditure Survey conducted by the US Bureau of Labor Statistics (BLS) in September 2020 provides the average monthly expenses reported here.įurther, it would be helpful to note that when we talk about family, it doesn’t necessarily mean two parents and two children when we talk about family. ![]() Average monthly expenses for a family living in the US This article will elaborate on the specific expenses your family will have to spend while you’re in the United States. If you want to know more about the factors likely to affect the cost of living the American dream, you’ve come to the right place. Then, having one child will raise it to $6,178, or $74,134 annually. Meanwhile, a couple’s living cost averages $5,572 monthly or $66,861 yearly. A family of four needs $7,095 per month or $85,139 annually. The cost of living in the United States for a family varies per state. ![]() However, regardless of how good you think the US is, one thing you should highly consider before moving here is the cost of living. Many people want to move to the US with the dream of having a better life with their families.
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