[7] U.S. Department of Commerce. Discretionary income refers to funds left over after paying for mortgage/rent, bills, groceries, kids’ expenses, household maintenance and supplies, and loan repayments. For the year 2003, the most recent available, housing led consumption expenditures (32.9 percent) followed by transportation (19.1), food (13.1), insurance and pensions (9.9), healthcare (5.9), apparel and services (4.0), and personal care products and services (1.3). Stock Market 30 January 2006.U.S. We understand that the world of finance is complex, and offer free, extensive guides on Twenty-five (25) per cent of Victorians earning an income are either in credit or have less than $50 left over at the end of their pay each month, followed by 23 per cent of working South Australians.The findings also show that 40 per cent of working WA residents are either in credit or have under $100 left in their pocket after paying for essentials each month, followed by 35 per cent of working Queenslanders.Again, older Australians had a much bleaker outlook towards their finances in 2020. The Average American Household's Discretionary Income, by Age and Pay: Discretionary income is a funny term -- people can't agree on a uniform definition. News Release: Personal Income and Outlays. NSW residents who earn an income also have the most money left over each month after paying all their essentials, at 25 per cent. The only category with a continual upward trend is healthcare spending. Both of these make sense, as household expenses likely fall as children move out of the house, and healthcare expenses increase as one gets older.But I don't think this actually provides a very good snapshot of the average American household's discretionary income, either. Personal Finance
For example, those over the age of 50 have half of the total amount of discretionary income in their control, making the 50-plus age category the wealthiest group in the nation. This group also corners three-quarters of the bank deposits in the nation, and accounts for 80 percent of all savings accounts.

Earlier calculations of discretionary income by TGE Demographics (See The Official Guide to American Incomes) show the age group 45 to 54 with the highest average household income. It’s not the younger consumer who’s shifting toward entertainment-based spending, but rather the higher-income consumer with growing discretionary spend.

Retirement (TMFCheesehead) "Unfortunately, the Bureau of Labor Services (BLS) -- which provides the most detailed and accurate So I set out to at least get a ballpark idea for how much discretionary income the average American household gets. See you at the top! Cumulative Growth of a $10,000 Investment in Stock AdvisorThe Average American Household's Discretionary Income, by Age and Pay: Where Do You Stand? First, the spending gaps observed between gender, age, and income groups diminish over time and begin to converge during the lockdown phase. The simplest is "all the money you have left after paying for taxes and your absolute needs." Department of Labor.

That's because, again, these are When we break the data down in this fashion, we can see how much the high earners skew the data. The only category with a continual upward trend is healthcare spending. We understand that the world of finance is complex, and offer free, extensive guides on
Money.com.au is the home of trusted, impartial information on finance in Australia. Companies are interested in discretionary income levels of consumers in various geographic areas, age brackets, and socioeconomic backgrounds: consumers with larger amounts are more likely to spend their money on the goods and services they provide. Returns as of 08/13/2020. The share of the food dollar spent on food a… He tends to follow the investment strategies of Fool co-founder David Gardner, looking for the most innovative companies driving positive change for the future. For instance, almost 70% of American households actually have Clearly, the top earners have a huge impact on the overall numbers.It's important to remember that not all discretionary income goes toward savings.

If you're looking for the simplest answer possible, the answer is this: $20,748. In other words, the average household has about $1,729 left over after paying the bills each month. Discretionary income is disposable income (after-tax income), minus all payments that are necessary to meet current bills. Some argue that costs for shelter should only be included up to a point -- as a millionaire who lives by himself in a mansion is clearly buying far more than his "absolute needs. It is total personal income after subtracting taxes and minimal survival expenses (such as food, medicine, rent or mortgage , utilities, insurance, transportation, property maintenance, child support, etc.) Although the data alone cannot predict how a certain consumer will choose to spend his or her discretionary income, it can provide useful information to help marketers make sound planning decisions.Discretionary incomes of people in certain age groups are of particular value to business and marketing specialists.


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