In case you were wondering what Americans spend their money on these days, we found a chart on The Atlantic, revealing the proportion of average expenses in 2012. At all surprising, it seems that Americans spend most of their income (an impressive 33%) on housing. Since the data initially found on Bureau of Labor Statistics was considered incomplete, a more in-depth research also took into consideration the different behavior between the rich (highest 20 percent of the population) and the poor (lowest 20 percent in terms of income).
Housing is number one on the list of expenses in both cases. While the “poor” spend up to 40 percent on their average income on housing, the “rich” do not exceed 30 percent of their overall monthly wages. The runners up on the list of expenditures are transportation, food and insurance-related costs, with high variations in percentage. If the bottom 20 percent in term of income spend about 4% on insurance, the highest 20 percent spend little over 15%!