meta_pixel
Tapesearch Logo
The Rachel Cruze Show

How Do Your Monthly Expenses Compare to the Average American’s?

The Rachel Cruze Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.83.6K Ratings

🗓️ 30 December 2024

⏱️ 10 minutes

🧾️ Download transcript

Summary

💵 Start your free budget today. Download the EveryDollar app!   Did you know the average American spends over $1,000 a month just on transportation? Find out how the rest of your monthly spending categories compares to those of the average American. Plus, learn three ways you can create margin in your budget.   Next Steps:  🎥 Watch my video 22 Expenses to Cut That You Won’t Even Miss.   Connect With Our Sponsors:  🏥 Learn more about Christian Healthcare Ministries.  🔒 Get 20% off when you join DeleteMe.   Listen to More From the Ramsey Show:  🍸 Smart Money Happy Hour  🎙️ The Ramsey Show  💸 The Ramsey Show Highlights  🧠 The Dr. John Delony Show  💰 George Kamel  💼 The Ken Coleman Show  📈 EntreLeadership    Ramsey Solutions Privacy Policy

Transcript

Click on a timestamp to play from that location

0:00.0

Well, hey, you guys. So I recently saw an article that laid out monthly spending trends for the

0:10.5

average American. And the data comes up from the Bureau of Labor Statistics. And it's really

0:15.0

interesting to kind of get a peek behind everyone's budget. And since you guys find it so helpful

0:19.9

to realistically compare your

0:22.0

financial progress, I figure today, let's unpack that data together and just see where we all

0:27.0

stand. And at the end, I'll share three ways to create a positive impact in your monthly budget,

0:32.3

because I think that's also really important. And make sure to subscribe and share this episode

0:36.5

with a friend. All right,

0:38.0

let's get started. Okay, first, I want to clarify that when it comes to your money, you have to

0:42.5

know where you are in order to know where you're going. And also, remember, that comparison is the

0:48.6

thief of joy. And so as we're going through these numbers, I want you to have context of where you are in your

0:55.4

financial journey because it's going to help you be able to be like, okay, you know, is this kind of

0:59.0

feel on average? And then also, these are not, this isn't you, right? This is the average American.

1:04.8

So remember that, but don't compare how someone else is doing to you from a deeper sense, right? Because your financial journey is so

1:12.9

personal. And I always talk about, you know, put the blinders on, run your own race. And I think that's

1:17.7

really important. So again, always remember this balance of, you know, seeing other people's numbers

1:22.1

and thinking, okay, that's kind of where we line up. I think that's good. But don't get so bogged down and feel like, oh my gosh,

1:28.0

you know, we're doing terrible or whatever it may be, right? So there's a balance here,

1:31.9

but it's always good to feel like you're never alone because you're not. We're all on this

1:35.8

journey together. All right. Let's look at the average Americans spending habits. And then

1:42.1

I will kind of react and give you my thoughts as we go along.

1:45.0

So as a baseline for context, remember, the average annual salary nationwide is about $59,000.

...

Transcript will be available on the free plan in -88 days. Upgrade to see the full transcript now.

Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.