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FYE105 Financial Literacy: Expenses

LIVING PLACE and TRANSPORT

Can you afford to purchase a new car?

Things to Consider:

  • Always take the shortest loan
  • Make the largest down payment as possible
  • Compare upkeep of used car to new car
  • Compare cost of insurance include (under insured and uninsured motorist)

 

BUY SOME CARS/TRUCKS

Public Transport

FOOD

Grocery Costs

 

After you've reviewed these numbers, look at where you can cut your food costs. For example, if you spend ​$2​ making lunch and bringing it to work once each week instead of spending ​$12​ at a fast-casual restaurant, you'll save ​$500​ per year. That doesn't include the credit card interest you'll save. If you save ​$20​ per week buying generics instead of name brands, you'll save another ​$1,000​ per year.

UTILITIES

Electrical Costs

Insurance Calculators

OTHER

Average Cost of Other Expenses

[an image of five other expense categories connected by a black line, showing the annual cost for each expense]

These average expenditures are from the 2017-2018 Consumer Expenditure Surveys, for one person under 25 years old and living in the South.