The Average American’s Monthly Spending According to Dave Ramsey – How Does Yours Compare?

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Everything is so expensive these days: from housing to groceries to gas and more. We all feel the financial bottleneck. So what is the average US spending?

According to the US Bureau of Labor Statistics (BLS), the average monthly spending of an American household in 2023 was about $6,440, which is about $77,280 per year. This represents an increase of 5.9% compared to 2022.

Let’s break down how much Americans spend each month to give you a better understanding.

Average American Monthly Expenses

Here’s how much the average American spends each month in each category, broken down by Dave Ramsey:

Housing

• Amount per month: $2,120
• Percentage of total spending: 32.9%

transport

• Amount per month: $1,098
• Percentage of total spending: 17%

Eat

• Amount per month: $832
• Percentage of total spending: 12.9%

Personal insurance and pensions

• Amount per month: $796
• Percentage of total spending: 12.4%

Healthcare

• Amount per month: $513
• Percentage of total spending: 8%

Entertainment

• Amount per month: $303
• Percentage of total spending: 4.7%

Cash contributions

• Amount per month: $198
• Percentage of total spending: 3.1%

Clothing and services

• Amount per month: $170
• Percentage of total spending: 2.6%

Training

• Amount per month: $138
• Percentage of total spending: 2.1%

Other expenses

• Amount per month: $272
• Percentage of total spending: 4.3%

Now let’s break down Americans’ monthly spending by household and family size.

Average monthly expenses by household size

Here are the average monthly expenses by household size, broken down by Dave Ramsey:

• A one-person household spends an average of $4,641 on monthly expenses.
• Married couples without children Spend an average of $7,390 on monthly expenses.
• A family of four Spends an average of $8,450 to $9,817 on monthly expenses (depending on age of children).

However, unlike increased spending on spending, inflation is finally coming down. The US Bureau of Labor Statistics also reported that inflation is currently down to 2.5%, which is the lowest level in three years. Hopefully we will all feel some relief soon.