Ways Middle Class American Workers Spend Money
Middle class American workers earn more than lower class workers, but less than upper class workers. The average worker makes more than $80,000 a year in salary. There are different ways that Middle class American workers spend money. They budget their money on different things in order to save money. Depending on the size of their family, they may spend more money on necessities.
One of the main things middle class workers spend their money on is mortgage. If they don’t own a home, they are spending a lot of money on rent. They spend over 31 percent of their income on their mortgage or rent each month.
Depending on the size of their family, workers spend a lot of their income on food. The average worker can spend over eight percent of their income of food. This number can change depending on the number of people in the family. The higher the number of the people in the family the higher the food bill will be.
Cars are another item where the average worker spends some of their income. The number spent on cars is over five percent. Cars can be expensive so the number spent can double depending on the size of the family. If everyone in the home drives, that will be extra money spent on cars. Speaking of cars, the amount spent on gas is over five percent. Again, this amount can double depending on how many cars are needed in the home.
Workers enjoy having a night out after working a hard day. Some choose to dine out instead of eating at home. The amount spent on eating out is over five percent. This amount can grow depending on the amount of people going out to eat. While on the subject of dining out, workers like to go out to be entertained. They spend over one percent of their income on entertainment. When they don’t go out, they spend almost two percent of their income on at-home entertainment. This entertainment includes music and television.
Another expense for the average worker is utilities. Workers spend over five percent in utilities every month. If they have a big family, this cost will rise because of the amount of people using the utilities.
Average workers need furniture in their homes and/or apartments. They spend over four percent of their income on furniture for their homes and/or apartments. This amount can change if there are a lot of people living in the home or apartment.
Workers spend a part of their income on doctor visits as well as dentist visits. They spend three percent of their income on these visits. If the workers have families, these visits could be very expensive.
There are many ways middle class American workers spend money they earn. They can divide their money up on their home, food, bills, entertainment, medical visits as well as other things. Depending on the size of their families, the amount they spend can double.