By Kurt Woock, NerdWallet
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Changing priorities and shifting income cause spending habits to morph as people age.
American households spent an average of $539 on bakery products and $131 on postage and stationery in 2024. Those are a few of the quirkier spending habits tracked and categorized in the Consumer Expenditure Surveys, a nationwide survey of more than 30,000 people. The federal government has conducted detailed expenditure surveys since 1888.
The Bureau of Labor Statistics releases this data, which includes spending details on hundreds of items for different generations, in one-year batches. While it may seem outdated by the time it’s released — particularly last year, when the 2024 data release was delayed until December due to the federal government shutdown — the tradeoff is specificity: We can put the spending patterns of specific groups of Americans under a magnifying glass.
Overall spending trends, by generation
The average dollar amount spent isn’t the best way to understand this data. Varying incomes can distort the meaning behind raw dollar amounts. For example, a younger household may spend a smaller dollar amount at restaurants than an older household, but if the younger household has a lower income, they may still be devoting a larger percentage of their income to eating out.
Instead, comparing the share of spending to the average income for each demographic reveals how much income each expense category eats up. Income reported in this survey is pre-tax.
Housing, transportation and food make up the core of American budgets. These three expenses used, on average, 48% of a household’s income in 2024. (The BLS measures spending by household, or what they call a “consumer unit.” That term includes families and other groups who pool their income and expenditure decisions. Roommates, on the other hand, are distinct consumer units.)
