Where our money goes
The new year has come, and with it renewed dedication to fix up our finances.
Resolutions to cut the fat of unnecessary monthly payments out of the family budget, making room for what’s important is a typical approach, albeit one that becomes increasingly difficult as the year presses on.
But there are certain expenses that stand the test of time and New Year’s resolutions.
First in 2007 and then again in 2010, the Pew Research Center conducted a Social Trends report, aiming to find out what everyone was spending their money on. This report, titled “What Americans pay for — and how” sought to discover not how much each American spends on an average bill, but how many Americans are paying any given bill.
The researchers identified the 14 most common bills to pay, and then asked 2,000 participants to answer whether they considered any of the suggested bills to be a “regular household expense.”
The results provide an insight not only into emerging national economic trends, but also into national priorities.
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