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.

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