in #CASE you missed it… What’s Killing American Budgets

in #CASE you missed it… What’s Killing American Budgets

74% of Americans do follow some sort of budget, but 79% admit they have trouble keeping within their budget

When it comes to being financially secure, most people rely on budgets to keep them in check, but it turns out a lot of people aren’t exactly sticking with them.

A new survey finds that 74% of Americans do follow some sort of budget, but 79% admit they have trouble keeping within their budget. And all this overspending is costing folks a lot of money. In fact, the survey finds Americans spend $7,429.24 over their budget every year. On average Americans have a weekly budget of around $197.31, not counting housing and credit card bills, although they are more likely to spend $340.18 each week, $142.87 over their budget.

The survey notes that only 10% of people think sticking to a budget is easy, and there are certainly some things that can easily kill your plans to stick to your weekly numbers. Respondents say online shopping is the biggest killer of a budget (40%), followed by grocery shopping (39%). Other budget killers include:

Subscription services (37%)

Technology products (36%)

Buying lunch everyday (35%)

Household essentials (32%)

Coffee (32%)

Food delivery (32%)

Gym memberships (30%)

Entertainment (movies, concerts, etc.) (29%)

Source: Yahoo Finance

Do you have a weekly budget?


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