Q:
What age group spends the most money?
A:
Quick Answer
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.
Continue Reading
Credit:
Lane Oatey / Blue Jean Images
Collection Mix: Subjects
Getty Images
Full Answer
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.
Learn more about Financial CalculationsSources:
Related Questions
-
Q:
What is the average number of miles driven per person in a year?
A: While the average number of miles a person drives per year depends on age and gender, the most important group of drivers — those between the ages of 35 an... Full Answer >Filed Under: -
Q:
What is a provisional license?
A: States that use graduated driver's licensing systems use the provisional license as the license stage after the learner's permit but before the unrestricte... Full Answer >Filed Under: -
Q:
How do you calculate per capita income?
A: The U.S. Census Bureau calculates per capita income by dividing a geographic area's total income from the past 12 months by the total population of all age... Full Answer >Filed Under: -
Q:
How do I turn $100 into $200?
A: Although there are many ways to double $100, the safest way to do so involves investing money in something that will increase in value over time. With the ... Full Answer >Filed Under:
