The average middle class family spends a lot of money each year. In fact, the average middle class family spends around $61,000 annually. This figure includes all the money spent on necessities such as food, housing, transportation, and health care. It also includes money spent on entertainment, vacations, and other non-essential items.
When it comes to food, the average middle class family spends around $7,000 a year. This includes groceries, dining out, and snacks. Housing costs are the biggest expense for most middle class families. The average family spends around $20,000 a year on housing, including rent or mortgage payments, property taxes, and utilities.
Transportation costs are the next biggest expense for middle class families. The average family spends around $9,000 a year on transportation, including car payments, gas, insurance, and maintenance. Health care costs are also a significant expense for middle class families. The average family spends around $5,000 a year on health care, including insurance premiums, co-pays, and medications.
When it comes to entertainment and vacations, the average middle class family spends around $7,000 a year. This includes money spent on movies, concerts, vacations, and other leisure activities. Finally, the average middle class family spends around $13,000 a year on other non-essential items, such as clothing, furniture, and electronics.
All in all, the average middle class family spends around $61,000 a year. This figure includes all the money spent on necessities such as food, housing, transportation, and health care, as well as money spent on entertainment, vacations, and other non-essential items. While this figure may seem high, it is important to remember that these expenses are necessary for a comfortable life. By budgeting wisely and making smart financial decisions, middle class families can ensure that they are able to afford all of their necessary expenses each year.