Households Spend the Most on These 12 Items

The average American household spends more than $1,000 a year on only 12 items according to the Consumer Expenditure Survey. Here are the items...

1. Social security deductions: $4,457
2. Groceries: $4,015
3. Vehicle purchases: $3,997
4. Rent: $3,600
5. Health insurance: $2,977
6. Mortgage interest: $2,859
7. Restaurants: $2,575
8. Gasoline: $2,028
9. Property taxes: $1,913
10. Electricity: $1,460
11. Vehicle insurance: $1,079
12. Cell phone service: $1,023

Note that both rent and mortgage interest appear on the list, yet few households have both expenses. But subtract either rent or mortgage interest from the expenses on the list, and the result is the same. The average American household devoted more than half of the $55,978 it spent in 2015 to this short list of items.

Source: Demo Memo analysis of the 2015 Consumer Expenditure Survey