Report: Amercans spend on average, $165 each day

Jim Hanzo
March 20, 2019 - 8:52 am
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Including all expenses, how much do you think you spend on average in a day?  The amount is just under $165 per day.   Too high or too low?   

According to a recent report from GOBankingRates Americans cough up a lot of dough in a single day.  And it's gone up 25 percent in the last 20 to 25 years.  Roland Doubleday, Financial Planner in Metairie says it's an average, more for some and less for others.  All the more reason to plan accordingly.    

"Once they do identify what they'll be spending on housing, utilities and healthcare and food, that leaves a lot less remaining for all the other needs," Doubleday said.     

Doubleday is right on, too.  The report says we tend to spend the most on housing, followed by groceries, utilities and health insurance. 

"Housing is always the largest expense," he said.  "I think that probably that utilities, including cable has grown most significantly over the past 20 years."  

And he's right.  It's gone up 25 percent in the last 20 to 25 years.

"I think it's a pretty simply analysis and I would say it's critical that people plan," he said.  "In the words of one of my clients, 'you can't spend 6 dollars a day and make 5 for very long.'" 
 

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