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How Do Women Spend Their Money?

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How Do Women Spend Their Money?

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

 

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