Cost of Living: Difference between revisions
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= | =Basics= | ||
*This page goes over various cost of living calculations | |||
*Think indeed or something did this, will go digging | |||
=The average cost of living for | =The average cost of living for the average person in the USA= | ||
*$20,194 per person per year according to Bureau of Labor Statistics (value given divided by 2.5 average household size ('consumer unit') - [ftp://ftp.bls.gov/pub/special.requests/ce/standard/2008/age.txt] | *$20,194 per person per year according to Bureau of Labor Statistics (value given divided by 2.5 average household size ('consumer unit') - [ftp://ftp.bls.gov/pub/special.requests/ce/standard/2008/age.txt] | ||
*Of this, housing ($6844), cars ($3442), and food ($2577) totals $12863 per person - about 64% of the cost of living. | *Of this, housing ($6844), cars ($3442), and food ($2577) totals $12863 per person - about 64% of the cost of living. | ||
=Average food expenditures for | =Average food expenditures for the average person in the USA= | ||
*Bureau of Labor Statistics - $2577/person/year - [ftp://ftp.bls.gov/pub/special.requests/ce/standard/2008/age.txt] | *Bureau of Labor Statistics - $2577/person/year - [ftp://ftp.bls.gov/pub/special.requests/ce/standard/2008/age.txt] | ||
**Almost half of this is eating out | **Almost half of this is eating out | ||
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*$300/month for moderate - [http://www.cnpp.usda.gov/sites/default/files/CostofFoodAug2015.pdf] | *$300/month for moderate - [http://www.cnpp.usda.gov/sites/default/files/CostofFoodAug2015.pdf] | ||
=Average housing expenditures= | =Average housing expenditures for the average person in the USA= | ||
*$6844/person/year - includes utilities and furnishings - [ftp://ftp.bls.gov/pub/special.requests/ce/standard/2008/age.txt] | *$6844/person/year - includes utilities and furnishings - [ftp://ftp.bls.gov/pub/special.requests/ce/standard/2008/age.txt] | ||
**$541 of this is electricity, and 451 is phone | **$541 of this is electricity, and 451 is phone | ||
**$1500 of this is mortgage payments, or about 1/4 of all housing costs | **$1500 of this is mortgage payments, or about 1/4 of all housing costs | ||
=The average transportation expenditures= | =The average transportation expenditures for the average person in the USA= | ||
*$3442 per person per year - BLS - [ftp://ftp.bls.gov/pub/special.requests/ce/standard/2008/age.txt] | *$3442 per person per year - BLS - [ftp://ftp.bls.gov/pub/special.requests/ce/standard/2008/age.txt] | ||
**Of this, $1086 is for fuel and oil, and $205 is public transportation | **Of this, $1086 is for fuel and oil, and $205 is public transportation | ||
=Other highest costs= | =Other highest costs for the average person in the USA= | ||
From [ftp://ftp.bls.gov/pub/special.requests/ce/standard/2008/age.txt]: | From [ftp://ftp.bls.gov/pub/special.requests/ce/standard/2008/age.txt]: | ||
*Pensions,personal insurance, social security- $2242/person/year | *Pensions,personal insurance, social security- $2242/person/year | ||
*Healthcare - $1190/person/year | *Healthcare - $1190/person/year | ||
*Entertainment - $1134 | *Entertainment - $1134 | ||
=Average Debt= | |||
=Average Debt for the average person in the USA= | |||
The above statistics don't tell much about debt levels. | The above statistics don't tell much about debt levels. | ||
Revision as of 15:49, 7 May 2020
Basics
- This page goes over various cost of living calculations
- Think indeed or something did this, will go digging
The average cost of living for the average person in the USA
- $20,194 per person per year according to Bureau of Labor Statistics (value given divided by 2.5 average household size ('consumer unit') - [1]
- Of this, housing ($6844), cars ($3442), and food ($2577) totals $12863 per person - about 64% of the cost of living.
Average food expenditures for the average person in the USA
- Bureau of Labor Statistics - $2577/person/year - [2]
- Almost half of this is eating out
- $150/week/2.6 household = $230 per month
- $2700/year according to [3]
- $300/month for moderate - [4]
Average housing expenditures for the average person in the USA
- $6844/person/year - includes utilities and furnishings - [5]
- $541 of this is electricity, and 451 is phone
- $1500 of this is mortgage payments, or about 1/4 of all housing costs
The average transportation expenditures for the average person in the USA
- $3442 per person per year - BLS - [6]
- Of this, $1086 is for fuel and oil, and $205 is public transportation
Other highest costs for the average person in the USA
From [7]:
- Pensions,personal insurance, social security- $2242/person/year
- Healthcare - $1190/person/year
- Entertainment - $1134
Average Debt for the average person in the USA
The above statistics don't tell much about debt levels.
$8500 is the average debt per person in America in 2008 - [8]
Cost over a lifetime
Say a person lives 78 years [9], and you take the average cost of living from BLS.
Over 78 years, one spends an average of about $1.6 million dollars just to survive.
Of this, one spends about $1M on housing, food, and cars ($12683 per year * 78)
More specifically:
One spends an average of $530,000 to put a roof over their head over their life.
One spends an average of $270,000 on their wheels.
One spends an average of $201,000 on grub.
This certainly makes a case for buying out at the bottom.
See Also
- Calculations
- Chris Martenson
- Homebrew Industrial Revolution
- Digital Fabrication
- Breakdown of cost of living expenses in America - [10]