Money is a tricky thing to manage, and often we find ourselves spending money we don’t have on things we don’t need. Spending carelessly and wasting money is no way to live, yet it’s a hard habit to break. In this economy when every dollar counts, everyone is looking for way to cut back and save a couple bucks.

Americans spend an average of $50,000 every year. Typically, $17,000 of that goes towards housing, $9,000 goes to transportation, and $6,000 goes towards food. The rest will be divided among entertainment, visits to the doctor and hospital, and tobacco and alcohol. To break it down further, money is wasted in every single one of these areas. In the housing department, utilities is usually the top culprit for wasted wages. Leaks and faulty heating and cooling systems can add a lot of money to the monthly bill. Food costs could be decreased by avoiding eating out too frequently, you and your family could save a ton of money and spend more time together trying to make dinner.

Take a look at this infographic for more on where your money has gone. What do you do to save money these days? Let us know in the comments and don’t forget to like and share with your friends!

Where Has the Money Gone?
Source: MoneyChoice.org

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