Study: Average Person Spends $164.55 Daily

By:
Chris Gaetano
Published Date:
Mar 13, 2019
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A recent report from personal finance website GoBankingRates has found that the average person spends $164.55 per day, according to CNBC. In general, the biggest expenses are housing, then groceries, then utilities, then health insurance. Sorting by age, however, millennials spend more on clothing and meals out, Gen Xers spend more on utilities, and older baby boomers spend more on health insurance. Millennials are also the biggest spenders out of the entire group, with daily expenses exceeding $200 on average; spending dips a little under that between ages 35 and 44, but then jumps back almost to previous levels at the ages of 45-54. Daily spending decreases in the 55-64 range, and then sharply once more among those 65 and older. As one might expect, those under 25 spend the least out of everyone, as they likely have the least amount to spend in the first place. 

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