What Do You Spend On…
Posted by Gail | Filed under Money Management
I love it when I get an insight into what people spend their money on. If anyone looked at my budget they might be surprised to see what I spend on tea and on books. (It’s in my budget!) Not so much on clothes and other STUFF. Well, I’ve culled the polls and found some info you might be interested in.
When I asked how much you spend per person in your family on clothes each year:
- 8% of you said less than $100
- 20% of you said $100-250
- 28% of you said $250-500
- 26% of you said $500-$1000
- 8% of you said $1000-$1500
- 5% of you said $1500-$2000
- 5% of you said more than $2000
Clothes aren’t the only things you guys are moderate on. Clearly I have no Princesses on my site! When I asked how much you spend on entertainment each month:
- 5% of you said nothing
- 33% of you said $25-$50
- 28% of you said $50-100
- 26% of you said $100-250
- 8% said more than $250
Now we come to the furry children. Of the over 800 people who voted on this poll, 37% don’t have pets, so I’m leaving them off the results. Of those who have pets:
- 55% of you spend between $25-50 a month
- 19% of you spend between $50-75 a month
- 14% of you spend between $75-100 a month
- 7% of you spend between $100-150 a month
- 5% of you spend more than $150 a month
You seem to be a fairly generous bunch. When I asked what your annual gift budget is, including birthday’s special occasions and Christmas:
- 10% of you spend $100 or less per year
- 21% spend $100-$500
- 33% spend $500-$1000
- 32% spend $1000-$2000
- 4% said, “I don’t have a budget: the sky’s the limit. Can I be YOUR friend too?
People are always writing to me to ask how much they should be spending in various categories of their budgets. I don’t know. It’s not for me to say how much you should spend on food, play, passions. I will say you can only spend YOUR money… so no credit. And you need to take care of the must-haves before the nice-to-haves come into the picture, including saving for the future. The rest is up to you. It ‘s your money, I’m not the person who gets to decide how you spend it.
Are you surprised to see how little or how much people spend in various areas of their lives? When was the last time you took a good, hard look at where YOUR money is going and if that’s how you want to be spending it?