Wednesday, September 09, 2015

Spending by Age in 2014

The average household spent $53,495 in 2014—3 percent more than in 2013, after adjusting for inflation. Despite the increase, spending was still 5.9 percent below the $56,833 of 2006, the year household spending peaked. Most age groups spent more in 2014 than in 2013, but only households headed by people aged 65 or older spent more in 2014 than their counterparts did in 2006. Here is average household spending by age of householder in 2014 and the percent change in spending between 2013-14 and 2006-14 (in 2014 dollars)...  

Under age 25: $32,179
2013-14: +4.3%
2006-14: -2.8% 

Aged 25 to 34: $49,547
2013-14: +1.4%
2006-14: -11.3% 

Aged 35 to 44: $62,512
2013-14: +4.6%
2006-14: -7.4%

Aged 45 to 54: $65,651
2013-14: +6.7%
2006-14: -2.9%

Aged 55 to 64: $56,267
2013-14: -0.9%
2006-14: -5.7%

Aged 65 or older: $43,635
2013-14: +3.7%
2006-14: +6.0%    

Source: Bureau of Labor Statistics, Consumer Expenditure Survey

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