Based on the Department of Labor's recent survey.
Simple pie chart
http://www.visualeconomics.com/how-the-ave...their-paycheck/

 

From the article,

"These expenditures come out of an annual household income of $63,091 per year on average, before taxes"

I would venture to say 70% of the population makes less than this!

So my response would be most people have their paycheck and the next few spent before they even earn them!

 

lol mine would be almost 1/3 even on the following:

car
rent/util
food/entertainment/alcohol

 

I'd say the $63,000 would be right on the money for the AVERAGE person.

So many countries in the world don't have the options to spend money on some of the things we do. It's great to have the options we have.

 

That's it?

 

[QUOTE=Wildncrazy,Feb 2 2010, 05:39 PM] I'd say the $63,000 would be right on the money for the AVERAGE person.

 

It's the average household income, not individual income.

Definition: "A household includes all the persons who occupy a housing unit. A housing unit is a house, an apartment, a mobile home, a group of rooms, or a single room that is occupied (or if vacant, is intended for occupancy) as separate living quarters. Separate living quarters are those in which the occupants live and eat separately from any other persons in the building and which have direct access from the outside of the building or through a common hall. The occupants may be a single family, one person living alone, two or more families living together, or any other group of related or unrelated persons who share living arrangements. (People not living in households are classified as living in group quarters.)"
http://quickfacts.census.gov/qfd/meta/long_71061.htm

 

Here is the 2010 Census Statistical Abstract - Income:
http://www.census.gov/compendia/statab/cat...rty_wealth.html
If your really interested.

I wish the information was more recent. Information from 2000 and 2007 serves as a great historical marker to view past trends.

 

household income of 63,091 before taxes. but there are 1.3 earners in a household. so we're really only talking about 48,531 per person...if that makes it ne more plausible

edit: oops shoulda hit the refresh button before posting. didn't see gatcrasher's post. but i gave you the math

 

I have been "discussing" this topic with wife. I think spending 10% of income on a car is OK. She said as long as my current car runs, there's no justification for getting a new car.
I should push the 17% like the chart says...