Random Thoughts
Where Does The Money Go?
August 4, 2009 by James K Barath, CMPS · Leave a Comment
Where does the money go?
If you’re like most U.S. consumers, more than half of it goes to housing and transportation costs.
According to the government’s most recent Consumer Expenditure Survey, spending patterns are little changed from years prior.
More money is spent on entertainment and less money is spent on dining out. Beyond that, the figures are somewhat static.
Meanwhile, using on the survey’s industry-by-industry breakdown, we can see how monthly housing payments and daily commuting costs impact a household’s budget.
For the budget-conscious, going out less often and bargain-shopping can help pad the bottom line, but not as much as living in a less expensive home or moving closer to work.
Even a refinance into lower rates can make a difference.
About the Author: James K Barath is a Certified Mortgage Planning Specialist, qualified liability advisor and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James Barath today for your Borrow Smart Analysis - the CALM Approach to Borrowing ! His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy! 