FAST FIVE: How Do Americans Spend Their Money, By Generation?
How Do Americans Spend Their Money, By Generation.
In 2021, the average American spent just over $60,000 a year.
As Visual Capitalist's Carmen Ang details below, with the graphic by Preethi Lodha using data from the US Bureau of Labor Statistics, how average Americans spend their money (and annual expenses) varies greatly across generations.
Differences Across Generations One category that varies the most between generations and relative needs is spending on healthcare.
As the table below shows, the Silent Generation spent an average of $7,053 on healthcare, or 15.8% of their total average spend.