Posts Tagged ‘expensr’

Personal Budget Breakdown

Thursday, November 20th, 2008
With all the news lately about people (specifically Americans) living beyond their means, I thought I might discuss a topic that is typically considered somewhat taboo—my personal budget from the past month. Budget Graph Kitten looking up at camera I've been entering my spending into Expensr religiously for about a year now to figure out my budget breakdown. I've covered Expensr once before here on the blog—you can anonymously enter your information and then break it out for evaluation and compare yourself to others who have defined themselves through various tags. For example, I've tagged myself with 23, young professional, woman, renting, Chicago, employed full time, etc. I spent $1,789.11 during the last month—which was actually inflated by the fact that I adopted Romulus, and he needed a fair number of shots for his kittenhood. As it turns out, my spending is well below average. So here's what surprised me... Check out the average amount spent per month for the following age groups, according to Expensr (I should point out that this sample size is fairly small, but this is interesting nonetheless): Age: Average Dollars Spent Per Month
  • 18: $952.08
  • 19: $1,022.27
  • 20: $1,599.37
  • 21: $1,454.17
  • 22: $1,938.54
  • 23: $4,175.99
  • 24: $3,664.86
  • 25: $3,011.25
  • 26: $4,942.25
  • 27: $3,648.50
  • 28: $3,860.44
  • 29: $5,275.85
  • 30: $4,931.99
To put this into perspective, at this rate, these 23 year olds would need to be earning well over $200,000 (This should be $50,000—my mistake, I multipled by weeks in the year, not months, thanks Amanda) per year in order to deter massive debt. I'm not sure how representative this actually is of typical 18-20 year olds, but if it is, I'm worried. Please restore my faith and tell me that you're not spending this much per month. Please tell me Expensr is flawed.