What Age Group Spends the Most Money?
Last Updated Mar 28, 2020 12:53:39 AM ET
According to The Daily Beast, Americans between the ages of 50 and 60 years old spend the most money, about 74 percent more than Americans aged 18 to 25 in 2010. Each group divides its expenditures in a different way.
On average, 50- to 60-year-olds spent twice as much on health care and three times as much on housing than younger Americans. In addition, 18- to 25-year-olds allocated more of their spending to food and drink, while seniors spent the least on shopping, at 16 percent. The Daily Beast cites a 2010 Bundle report that attributes these differences to the fact that seniors are retiring and declining in health, so their spending habits reflect a shift from nightlife expenditures to those of leisure after the age of 50.
More From Reference
Understanding D-Day: What Is the History of the Normandy Invasion?
8 Simple Ways You Can Make Your Workplace More Inclusive for LGBTQ+ Folks
How Do Archaeologists Determine the Purpose and Meaning of Ancient Monuments?
Mythology 101: A Basic History of Zeus the Greek God
What Services Does the Clever Portal Offer Students for Distance Learning?
When Was the First Memorial Day?