BUISENESS MANAGEMENT
RECORD KEEPING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$26, 016
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$8, 672
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$2, 218
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$2, 168
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Detailed explanation-1: -To get the average, add up the amount of money spent for 12 consecutive months, then divide by 12. This will give an average of how much has been spent per month. Calculating average monthly expenses requires actual or estimated figures for all monthly costs.
Detailed explanation-2: -The typical American household spends $5, 111 per month, on average. The largest expense for most Americans is housing. At $1, 050 per month, the cost of having a roof over our heads accounts for 21% of a household’s monthly budget. Percentage of income is based on after-tax income.
Detailed explanation-3: -In 2021, average monthly expenses ranged from $3, 405 for one person to $7, 400 for a family of five or more. Hal M. Bundrick is a personal finance writer and a NerdWallet authority in money matters.