Step1
Step2
Step3
Step4
Step5
Step6
Step7
Step8
Step9
Step10
Step11
Step12
Step13
Step14
Step15
Step16
Step17
Step18
Step19
Step20
Step21
Step22
Step23
Step24
Step25
Step26
Step27
Step28
Step29
Step30

Consumer Statistics

It's time to take a closer look at consumer financial trends. These interesting facts will give you some insight into the ways people are spending their money.

  • The average consumer spends $49,638 a year buying both needs and wants. Not surprising, the largest expenditure of the average household is housing, which comprises 34.1 percent of the yearly budget. The second largest expenditure is transportation, making up 6.5 percent of the yearly budget. (Source: U.S. Department of Labor, 2010)
  • More than two in five adults (43 percent) now keep a close track on their spending, but more than half (65 percent) still do not have a budget. (Source: NFCC Financial Literacy Survey, 2010)
  • Consumer spending rose 0.7 percent in February 2011 due, in part, to higher food and energy costs. Personal incomes also rose 0.3 percent in February. (Source: U.S. Commerce Department, 2011)
  • Three-quarters (74 percent) of Americans are cutting back on non-essentials, such as dining out, to cope with the current economic conditions. (Source: Money Management International Financial Literacy Survey, 2009)
  • The total U.S. consumer debt is $2.40 trillion. (Source: U.S. Federal Reserve, 2010)
  • About two-thirds of adults (65 percent) have not ordered a copy of their credit report within the past year and nearly one in three (31 percent) do not know their credit score. (Source: National Foundation for Credit Counseling Financial Literacy Survey, 2010)
  • Consumer bankruptcies rose to 1.53 million in 2010. This is a nine percent increase from 2009. Reports indicate this is the highest personal bankruptcy filing in five years. (Source: American Bankruptcy Institute, 2011)
  • Nearly four in five adults agree they would benefit from advice and answers to everyday financial questions from a professional. (Source: NFCC Financial Literacy Survey, 2010)
  • When faced with financial challenges, 27 percent of Americans said they would reach out to financial education service providers, such as credit counseling services, first. Banks and financial planners were named by 23 percent and 22 percent respectively. (Source: Money Management International Financial Literacy Survey, 2009)
  • The Average APR on a new credit card is 14.73 percent. (Source: CreditCards.com, 2011)
  • Nearly 28 percent of adults do not pay all their bills on time. (Source: NFCC Financial Literacy Survey, 2010)
  • The U.S. credit card 60-day delinquency rate is 3.23 percent. (Source: Fitch Ratings, 2011)
  • Fifty percent of Americans have less than one month of emergency savings, and 28 percent have less than two weeks’ expenses saved. (Source: Mybanktracker.com, 2010)
  • There was good news in the housing market. Foreclosure filings, or bank repossessions, were down 14 percent in February 2011 and down 27 percent from February 2010. Overall, one in every 577 housing units received a foreclosure filing during the month. (Source: RealtyTrac, 2011)