“Spend less money” is the #1 personal finance goal across the U.S. according to a recent Tiller Money poll.
Regardless of their financial situation, almost everyone wants to spend less, pay down debt, and save more.
How do Americans spend their money?
A visualization from Engaging Data based on spending data from the US Bureau of Labor Statistics found that Americans were spending over 65% of their income in three categories:
- Food at home
It’s not surprising that housing is the #1 expense, taking 33% . But as Digg pointed out, it is surprising that a “whopping 17.8% of the average household’s spending” goes to transportation alone when you combine the cost of vehicles, gas and auto insurance.
Share your favorite money saving tip.
We all know the common, generalized money saving advice such as “cook at home” and “buy less Starbucks.”
But you probably have clever ideas about spending less that go beyond the basics. We’re encouraging you to share your ideas for a chance to win one of four $50 Amazon gift cards.
Your money saving tips don’t have to be ultra-frugal or lead to massive savings.
(For example, I only use a Cash card to buy coffee out, saving $1 per transaction – knowing of course that I’d save more money by not getting coffee out at all.)
But if you do have ideas for saving money in the big categories of housing, transportation, and food, please share them!
Share your favorite money saving tips in the form below.
Note: this survey is now closed. You can see the results here.