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.
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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.
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