High Cost of Living Expenses
Ann Belser/Pittsburg Post-Gazette/Sun-Sentinel
June 09, 2014
The Bureau of Labor Statistics released a study of American’s incomes and expenses from 2012 to 2013. The report found that, on average, incomes fell $103 while expenses rose $777. The biggest expense is housing, on average, costing Americans close to $20k a year. Low income families are the most cost burdened with 40 percent of their incomes going towards housing while simultaneously falling $10k short of their expenses.