“I am only one, but still I am one. I cannot do everything, but still I can do something; and because I cannot do everything, I will not refuse to do something that I can do.” – Helen Keller
According to the Bureau of Labor Statistics, on average American household spends 36.9% of their gross annual income on rent/mortgage and utilities!
So let’s do the math…
If your annual household income is $50,000, you’ll spend $18,450 on rent and utilities and will have $31,550 to cover all of your other remaining expenses.
How about this one: an average American household spends 5.7% of their annual income on restaurants – not counting regular grocery items. That’s $2,850 a year, or $237.50 per month, based on the $50,000 annual income.
