American's Spent An Average Of Over $2k On Fun in 2023

Do you have any idea how much you’ve spent on food, health and wellness or shopping this year? We may not want to see those totals, but new research reveals how much the average American has spent on those and other categories. Chime’s “Spending Wrapped” has just come out, showing all the ways Americans have managed their finances in 2023.

The online-only financial tech company polled 2-thousand U.S. adults on their spending and saving habits this year and found that 93% had financial goals going into this year and many met them. Overall, Americans saved an average of almost $2-thousand and paid off three debts. They also spent a lot of money and here’s what the deep-dive into their financial lives reveals.

  • Top financial goals for 2023 include paying off debts (67%), having a certain amount of money in savings (62%), spending less on non-necessities (62%), and sticking to a budget every month (50%).
  • Over the year, people spent nearly $18-hundred on dining out, fast food and food delivery.
  • They also spent around $744 shopping online and another $702 at in-person retailers, including big box stores, boutiques and malls.
  • Health and wellness spending was almost $13-hundred, on average, covering things like vitamins and gym memberships ($649), as well as self-care at nail salons and massages ($648).
  • The top debts people wanted to pay off include credit card debt (69%), health care or medical debt (57%), home loans (53%) and student loans (44%).
  • Americans spent an average of four days a month feeling stressed about paying bills and other necessities.
  • As for savings, people set out to save an average of $2,100 ($2,132) this year and came within $200 of reaching that goal ($1,982).
  • Looking ahead to 2024, three-quarters (76%) feel more confident they’ll be able to reach their goals next year than this year.

Source: SWNS Digital

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