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There is an article in The Wall Street Journal caught my eye this lovely Tuesday morning, as Sara Murray took a look at how families cut back on spending in 2008. According to the article, consumer prices increased nearly 4% when compared to 2007; but pre-tax income increased less than 1% - or $472 for an average family. Yes, the average American family made $472 more dollars in 2008 than it did in 2007. Breaking it down even further, the overall spending per consumer unit (which includes families, single people, or cohabitants) increased 1.7%, or $848, in 2008. This was the smallest spending increase since 2003. The biggest drop was in apparel spending (4.3%) while families spent 8.1% more on eating at home (which computes out to $279 per family).irresponsible spending posts
FeedFamilies tried to reign in the spending last year
There is an article in The Wall Street Journal caught my eye this lovely Tuesday morning, as Sara Murray took a look at how families cut back on spending in 2008. According to the article, consumer prices increased nearly 4% when compared to 2007; but pre-tax income increased less than 1% - or $472 for an average family. Yes, the average American family made $472 more dollars in 2008 than it did in 2007. Breaking it down even further, the overall spending per consumer unit (which includes families, single people, or cohabitants) increased 1.7%, or $848, in 2008. This was the smallest spending increase since 2003. The biggest drop was in apparel spending (4.3%) while families spent 8.1% more on eating at home (which computes out to $279 per family).Continue reading Families tried to reign in the spending last year
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