Graphic Are you spending too much?

Compare your expenses with those of a typical household

Long description

Spending more than average might be unavoidable if you live in a high-cost area, but looking at your expenses critically can help you establish healthy spending habits.

Key Takeaways:

  • Tracking your expenses and seeing how you stack up can help you identify any areas where you might be spending too much.
  • Although it can be helpful to see what a typical household spends, your expenses may be higher or lower depending on where you live, how large your family is and other factors.
  • Budgeting can help you take control of your spending so that you have more money to put toward your financial goals.
  • When making your budget, consider setting aside 50% of income for needs, 20% for goals and 30% for wants.
  • Your UBS Financial Advisor can help you evaluate your spending and prioritize your goals.

1 Based on median household income of $65,084. "Sentier Research: Income and Demographics," Sentier Research. https://www.sentierresearch.com/.

2 "Renting," Zillow. https://www.zillow.com/research/renting/.

3 "The Real Cost of Health Care: Interactive Calculator Estimates Both Direct and Hidden Household Spending," Kaiser Family Foundation, Feb. 21, 2019. https://www.kff.org/health-costs/press-release/interactive-calculator-estimates-both-direct-and-hidden-household-spending/.

4 "Consumer Expenditure Surveys," Bureau of Labor Statistics, April 26, 2019. https://www.bls.gov/news.release/cesmy.nr0.htm.

This content has been provided under arrangement with Napkin Finance®. It may have been modified to meet the specific needs of UBS. Napkin Finance® is not responsible for any errors in the content, or any actions taken in reliance on it. Please do not copy or excerpt this content without express permission from UBS. UBS and Napkin Finance® are not affiliated.

This is for informational and educational purposes only and should not be relied upon as investment advice or the basis for making any investment decisions. It has not been prepared with regard to the specific objectives, financial situation or particular needs of any specific person. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Any opinions expressed are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or groups of UBS.

As a firm providing wealth management services to clients, UBS Financial Services Inc. offers investment advisory services in its capacity as an SEC-registered investment adviser and brokerage services in its capacity as an SEC-registered broker-dealer. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business, that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. A small number of our financial advisors are not permitted to offer advisory services to you, and can only work with you directly as UBS broker-dealer representatives. Your financial advisor will let you know if this is the case and, if you desire advisory services, will be happy to refer you to another financial advisor who can help you. Our agreements and disclosures will inform you about whether we and our financial advisors are acting in our capacity as an investment adviser or broker-dealer. For more information, please review the PDF document at ubs.com/relationshipsummary (PDF, 122 KB).

© UBS 2021. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS Group AG. Member FINRA. Member SIPC.