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You can make an educated guess from a few premises:

  • Median personal income in USA is $32,000
  • Tax rate 25%? (Not sure about the tax rate, we need a guess for average total taxes across all states and personal status - single, single parent, married couple etc.)
  • Savings rate is zero
  • Payback of loans/credit and getting new loans/credit sum to zero
Under these conditions you spend everything you earn every year, neither more nor less, and the median American would spend $25,000/year. (Income minus taxes.)

The only way you can spend more than you earn would be to take from savings or get a loan, which would only be temporary. The primary way you would spend less is paying back loans or increasing savings.

See related link for income statistics.
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Wiki User

15y ago

What else can I help you with?