How does the average american spend their income?
112696
house, house insurance, water, electric, cable, PC, software, gas, oil\ncar, car insurance, gasoline\nkids, education\nhealth insurance\nfood, beverage\ncredit card ( everything else )\nuncle sam, town tax, state tax\nthe rest for everyone else wants to stick their hands into your wallet
272741
Because you spend more than what you make.\n\nFor example if you are a minimum wage worker making $51.50 a day but that day you go take your family to see the film "Chicken Little" and pay $32 for the tickets and $8 for some pop corn and you add the costs of the gasoline to get to the movie theater and the costs of the breakfast at home and the dinner at home and the water you used that day and the energy you used that day and the cost of cable or satellite television for that day you spend more than $51.50 and at the end of the day you are the same (If you only spend $51.50) or poorer if you actually spended more than $51.50 \n\nRich people every day they have more money.\n\nIt does not matter if you only save $5.15 that day in your savings account (Or Pig) if you save you are richer that day.\n\nAll you need is a budget.\n\nIf you don't know what a budget is drop me a line.
768881
80 percent of Americans have little disposable income, so their net worth is relatively low. For the top 1%, it's to the tune of 2-3 million, 100million for mega millionaires( 30 mil+), and 3 billion for billionaires. Hope this helps. Sorry I couldn't give an answer completely specific to your criteria.
510245
Maybe it SEEMS so, but you probably don't spend more than 1/3rd of your income on taxes.  Sales taxes are only 5 or 6%; and you get tax deductions for mortgage interest, etc.  The USA has one of the lowest overall tax rates of any modernized country, especially compared to Europe.
1115560
It all depends on the amount of bills you have and what you make.\nI have to spend more like 75% towards bills, then 10% for groceries, 10% for necessities & fun, and 5% to savings.  Would like to put more into savings and the "fun", but house & gas bills have to get paid first :-(
475592
okay, I don't really know what you spend, but here are somethings to check:\n\n(1) cable, get rid of it if possible (or get the cheapest deal)\n\n(2) cell phones, get rid of them if possible or ditto.\n\n(3) gasoline.  Try to limit driving, so you could maybe shave off $5 or $10 a week.\n\n(4) get cheaper car insurance, if possible.  If you haven't had an accident in 5 years, you can ask your company right now for a "best driver" rate.\n\n(5) don't leave any appliances (TV, computer) or lights on when you are not using them\n\n(6) If your health insurance is expensive, you could also shop around\n\n(7) And if you got a refund from taxes this year, you could change your withholdings so that you can get more out of each paycheck, instead of waiting until the end of the year.
683610
You have to estimate all your monthly expenses, add them together, and subtract that from your total monthly income after taxes. You should remember some emergency funds and some "fun funds" as well as the basic necessities like food and rent, car insurance, etc.
481003
OK, I currently make a little under $100,000.00 a year.  I live in a 3000 sq ft home.  I have two cars, one of which is a Mercedes.  I have quite a bit of money in the bank and a rather tidy stock portfolio.  I have all the toys I could wish for and then some including a home theater projection system, high-speed internet access and a stereo system that can wake the dead.  If I lost my job today, I wouldn't have to worry for at least 2 years and could maintain my current lifestyle.  Or I could liquidate everyting and probably never have to work again at all though it would be of a necessarily lesser lifestyle.\n\nIt wasn't always that way.\n\nIn 1977, I earned less than $5,000.00 per year.  I supported a wife and son in a tiny garage apartment with nasty furniture.  We drove a 12 year old junker of a car that burned more oil than gas.  We had a tiny black & white TV that picked up two stations.  We didn't have a telephone or cable TV.  We ate lots of boxed mac & cheese (10 cents at Winn-Dixie) and cheap hot dogs.  If I lost my job back then, we would have been on the streets within 2 weeks, probably "living" in that old Dodge Dart.\n\nOwing to lots of hard work and sacrifice, I got from the "there and then" to the "here and now."\n\nI consider my reality to be much more valid than OJ's.  My guess is that he put on a bunch of weight and that the glove failed to fit as a result.  His money was a contributing factor, but not the primary one.
270286
The average income for taxpaying Americans over 14 years of age is about $32,000 a year.  The average Household has an income of about $36,000 a year.
144695
Budget\nSet your goals - What do you want to buy?\nWhat is your income?\nWhat do you have to spend - food, transport, clothing, tax.\nHow much can I save each week.\nCan I save enough to get what I want, when I want it.\nCan I allow for some extra spending and still reach my goal.
706623
The tough thing here is we have a lot of definitions of "middle class", much less wealthy. \n\nPoor or low income=Under $20,000\nMiddle is somewhere between $20,000 and $75,000 but \nUpper Income is generally defined as over $200,000\nWealthy are those that make over $1,000,000 a year\n\nFormerly in the financial wealth management(financial planning) biz, I can tell you everyone uses different standards. But, in general, wealth is determined by a mix of net worth and annual income. (Someone making $100,000 yet has $1,000,000 in assets or someone who makes $800,000 yet has only $200,000 in assets would both be potential clients-as yes, they both exist.\n\nI've also noted that the more money one makes, the more tax deductions and credits they can take advantage of-there are few deductions for most middle class excepting mortgage interest or child credits yet at $200,000 and up, believe me, there are many!\nI've seen a $500,000 income reduced to $38,000 "taxable". If you have a nice income, pay for a good tax attorney!  \n\nAs to the Democrats, the estate tax only benefits the "rich"-those with over $2,000,000 in assets and will increase to 3.5 million so I believe that will be back on the table. I believe they will concentrate first on the obvious-the upper rates of $200,000 and above. We somehow have to pay for this debt we've accumulated from the lowering of taxes(revenue) and the cost of the war. It really matters not whether Republican or Democrat-when a business(or the government) loses a source of income and costs go up, you must find a way to pay! The US Govt has a lot better credit than most but sooner or later....so I'd personally be willing to give my tax break back-it wasn't much at my $40,000 a year income-and I hate to pass on the debt to my son.\n\nAnd a piece of advice-the 401k is one of the best savings vehicles ever-contribute all you can up to the limit but especially whatever your employer matches.A great deal for any income bracket!
605042
If you could find "middle class" average people who agree. I do not think we could agree on who is middle class Harvard says single income of $41,000 & 2 income family of $72,000. I think anything below $150,000 is middle class. \nMy friends & I are middle class people, we do not live in mansions or have chaueffers, we are just regular people & we do not vote alike very often.\n\nIt is someone's dream that would would be democrats - and our nightmare. Middle Income - Kennedys, Clintons, Kerrys, rockafellares, Fords, Gates, Clooney, Oprah - I want their middle class income.
977103
Income Tax is on money you earn working/investing. Most people figure a ballpark of 20%. When a person wins a certain amount of money at a horse track they take 20% before giving your payout and you receive a receipt so you may get some back at the end of the year. This money is used for Federal Expenditures like; Freeways and national security and pays Federal Employees.\nSales Tax is when you buy things it depends on your State, City and County. Many figure a ballpark of 10%. Where I live it about 8% on most purchases and 12% on prepared foods like a restaurant or McDonald's. This money is used for local expenditures within the specific State, being divided accordingly to State, City and County and pays for things like; State and County roads, State Employees and Teachers, Parks etc.
813842
How much debt do you have and how much money do you make???
1182928
Doesn't have to be fancy. Start with your paycheck(s). Then estimate your daily/weekly expenses like groceries, parking, gas, bus tickets, coffee, etc. Now figure out what are your monthly expenses, like rent, car payment, and insurance. Divide those in half (not exactly right but close enough) and add to your expense list. Maybe you have other expenses that are less often, like some insurance. Set aside an amount each week so that you'll have enough when it's time ot pay. From there you need to see how good your guesses were, and compare how much you really spent to what you thought. Fine tune as you go.
641212
So hard to compare. \n$700/month for a professional like you would be ridiculously low here in the USA, but it is also probably more expensive to live here (housing, food, taxes, insurance, etc...)  \nIt is hard to say what that means in terms of real spending power.
440219
Sure, America is rich, but the money is not distributed evenly. There is a small number of Americans that possesses a large percentage of the money that the nation currently has...