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2. Transportation – $9,500
Vehicle fees and running costs as well as general cost of getting around
Many Americans spend a pretty penny each month to keep a roof over their heads, food on the table and a means of transportation. Other items commonly found in household budgets include education, child care, health care, retirement savings and entertainment. Inflation is cooling down from its 40-year-high in 2022, yet prices are still uncomfortably high, leaving consumers with less money in their budgets for such financial matters as savings and debt repayment. In fact, 63 percent of financially insecure Americans say high inflation is keeping them from being financially comfortable or secure, a recent Bankrate survey found.
