Money

How Do Women Spend Their Money?

The Bureau of Labor Services recently compiled a report on how single women spend their money.  Those with more, often spent more on goods and services.

The Bureau of Labor Services recently compiled a report on how single women spend their money.

Housing was a vast majority of expense, regardless of income less.  Accommodations accounted for an average of 39.4 percent of total spending by single women in 2014‑15.  This was by far the largest spending category. Single women with incomes of $40,000 or more spent 35.7 percent of their budget on housing, a smaller share than single women with lower incomes.

Food represented 11.2 percent of total money spent by single women.  Similarly single women with higher incomes spent a smaller share of their budget on food than did single women with lower incomes.

Related: Five Places to Shop to Slash Your Grocery Budget

Personal insurance and pensions accounted for 6.9 percent of total spending by single women in 2014‑15. Single women with incomes of $40,000 or more spent 12.2 percent of their budget on personal insurance and pensions. That compares with 7.4 percent among single women with incomes from $30,000 to $39,999 and less than 4.0 percent among single women in income groups below $30,000.

Related: Mum Makes Smart Decision By Spending $5,400 Tax Return, But Not on Her Kids

Related: 10 Money Saving Tips for Everyday Expenses

 

average_spending-single-women

Disclosure: The information provided by The Financial Genie is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs. The Financial Genie does not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. Additionally, some of the organizations with products on our site may pay us a referral fee or affiliate commission when you click to apply for those products.

Leave a Comment