Are You Spending More Than the Average American on 25 Everyday Items?

The U.S. consumer price index, a key indicator of inflation, increased by 3.3% over the past 12 months as American budgets continued to feel the pinch. Some CPI categories have experienced only a slight annual increase, such as at-home food and clothing, but others, like shelter and electricity, have jumped more significantly.

GOBankingRates conducted a study of the average annual spending on 25 everyday items to learn more about inflation’s continued impact on the typical American budget. GOBankingRates used data from the U.S. Census Bureau, the Bureau of Labor Statistics, the National Retail Federation and other reputable sources, which included essential and discretionary expenses ranging from rent and utility payments to entertainment and subscription services.

Surprisingly, the study revealed that Americans spend more on coffee than auto insurance, despite an average 26% increase in full-coverage premiums this year. However, people are spending less on dining out than on groceries.

If your budget indicates that you’re outspending most Americans in restaurants and coffee shops, cutting back in these areas can help offset your higher rent or utility payments or allow you to put more into your savings. Conversely, trimming above-average unavoidable expenses may allow you to add more fun to your budget.

The study included retirement account contributions, so see if you’re falling behind or outpacing the average American in retirement savings.

Whether you’re managing a tight budget or simply curious about the impact of your cost-cutting efforts, comparing your spending to others can be a powerful tool. It can help you identify areas where you could potentially save or confirm that your good spending habits are paying off. 

Remember, being below average is a good thing when it comes to spending. So see how your spending compares to the American average in the following 25 categories:

• What the average American spends annually: $255

• What the average American spends annually: $924

• What the average American spends annually: $583

• What the average American spends annually: $620

• What the average American spends annually: $741

• What the average American spends annually: $833

• What the average American spends annually: $845

• What the average American spends annually: $1,160

• What the average American spends annually: $1,592

• What the average American spends annually: $1,009

• What the average American spends annually: $2,106

• What the average American spends annually: $1,284

• What the average American spends annually: $1,335

• What the average American spends annually: $1,859

• What the average American spends annually: $1,945

• What the average American spends annually: $2,755

• What the average American spends annually: $3,120

• What the average American spends annually: $3,843

• What the average American spends annually: $3,639

• What the average American spends annually: $4,549

• What the average American spends annually: $5,703

• What the average American spends annually: $8,223

• What the average American spends annually: $16,692

• What the average American spends annually: $25,285

• What the average American spends annually: $21,300

For this study, GOBankingRates found the amount the average American spent on 25 everyday items. GOBankingRates used numerous sources, including: the National Retail Federation for holiday food/decorations and holiday gifts, Barbend.com for personal training/meal plan/gym clothes/gym membership/supplements, Care.com for infant daycare costs, Go.Bango.com for subscription services, DriveResearch for coffee cost, Zillow Observed Rental Index for rental cost, Bureau of Labor Statistics Consumer Expenditure Survey for all residents for alcohol/cellphone services/charitable donations/clothing/dining out/entertainment fees/gasoline/groceries/health insurance/miscellaneous/pets/public transportation/retirement across contributions/utilities/vehicle insurance/vehicle maintenance, and the U.S. Census American Community Survey for mortgage. All data was collected on and is up to date as of June 11, 2024.