Skip to main content

Household Expenses Compared

Managing household expenses can be a daunting task, especially with rising costs of living and increasing financial pressures. One way to stay on top is by comparing your spending to others in similar situations. By examining typical expenses for different types of households, you may discover ways to cut back and make your budget more sustainable.

Comparing Expenses Across Different Household Types

Single Person Households​

  • Rent or mortgage: 30-40% of income
  • Utilities (electricity, water, gas): $100-$150 per month
  • Groceries: $500-$750 per month
  • Transportation: $300-$500 per month (assuming public transportation or a fuel-efficient vehicle)
  • Miscellaneous expenses: $200-$500 per month

Couples with No Children​

  • Rent or mortgage: 40-50% of combined income
  • Utilities: $150-$250 per month
  • Groceries: $750-$1,000 per month
  • Transportation: $400-$600 per month (assuming public transportation or a fuel-efficient vehicle)
  • Miscellaneous expenses: $300-$500 per month

Families with One Child​

  • Rent or mortgage: 50-60% of combined income
  • Utilities: $200-$300 per month
  • Groceries: $1,000-$1,500 per month
  • Transportation: $500-$700 per month (assuming public transportation or a fuel-efficient vehicle)
  • Childcare: $500-$800 per month
  • Miscellaneous expenses: $400-$600 per month

Families with Two Children​

  • Rent or mortgage: 60-70% of combined income
  • Utilities: $250-$350 per month
  • Groceries: $1,200-$1,700 per month
  • Transportation: $500-$800 per month (assuming public transportation or a fuel-efficient vehicle)
  • Childcare: $600-$900 per month
  • Miscellaneous expenses: $450-$650 per month

Tips for Reducing Expenses​

  • Consider shared housing arrangements with friends or family members to split costs and save on rent.
  • Look into energy-efficient appliances and practices to lower utility bills.
  • Plan meals, use coupons, and buy in bulk to reduce grocery expenses.
  • Research and invest in a fuel-efficient vehicle or explore alternative transportation options like public transport or carpooling.
  • Take advantage of tax credits for childcare costs and consider enrolling your children in pre-school programs to save on after-school care.
  • Review insurance policies, subscriptions, and memberships to cancel any unnecessary expenses.