Ever wonder where everyone else spends their money?
Well I do 🙂 I mean, c’mon now! I like reading about where people spend, why, and so on.
What’s even more interesting is how it’s evolved over the years.
Chart terms:
- nominal value refers to a value expressed in money terms (that is, in units of a currency) in a given year or series of years.
- real value adjusts nominal value to remove effects of price changes over time
I like to put more weight on ‘real value’ rather than ‘nominal value’.
Via The Economist
SUMMARY:
- Processed vegetables have really risen, but Food has dropped
- People are repairing their cars rather than buying new ones
- People are not buying household furnishings and equipments — buying less in general?
- Housing is also down, maybe they’re downsizing to smaller homes
- Alcohol and Food Away From Home has significantly been cut down
- Tobacco has been cut WAY down (better for health anyway)
- Household, utilities and fuels are really up — no surprise here, gas has been on a hot streak
- …which makes sense because Gas and motor oil are down
Just a girl trying to find a balance between being a Shopaholic and a Saver.
I cleared $60,000 in 18 months earning $65,000 gross/year.
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This is interesting. I personally think it is cool that tobacco has dropped and more people are repairing rather than buying new, though I think it is sad that more people are buying processed vegetables rather than staying with fresh food as fresh is always better for you in my humble opinion.
The housing spending from 2007 to 2010 may be down because people are refinancing their mortgages to take advantage of lower rates.
Either that or it may reflect the people who have lost their jobs and can no longer pay their mortgages :s
People are spending a lot less on education than they should. Education is the most important thing and will lead to a better life. It can either be that people are choosing not to go to university to get a job or that more people are making the shift from public university instead of private university. It’s hard to tell, but I hope it’s the latter because if people are dropping out/choosing not to go to school, it’ll hurt them in the long run.
I know this is about downsizing, but the Education thing worries me.
Wow, amazing numbers. The fact that a lot of the items have indicated significantly reduced spending says a huge amount about our economy right there, especially since minimalism isn’t mainstream. 🙂 Thanks for sharing!
Peace,
Annie at Annienygma.com
I found it interesting too. The trend towards fixing/repairing rather than buying new.