By Cheryl Russell, New Strategist Publications
It is not easy to figure out what Americans do with their money. First, you have to ask enough people so that the answers are statistically representative. Second, those you ask must keep tedious track of their spending. Third, the data must be organized into meaningful categories or the details will overwhelm.
Fortunately, the Bureau of Labor Statistics does all of this with the Consumer Expenditure Survey, an annual data collection effort that reveals who spends how much on what. For more than ten years, New Strategist has been tracking CEX results to uncover trends in household spending. The latest findings reveal an aging population that responds eagerly to technological change, but also pinches pennies to cover the rising cost of a middle-class lifestyle. Here are the top ten trends, category by category.
Published at the Small Business Trends blog.
[small biz] [rural] [trends] [spending]
- Move Your Money and Bank Local - March 22, 2023
- Using a building as a warehouse or storage in a small town? Put up a sign - March 13, 2023
- How to get customers in the door of small town and rural retail stores - February 19, 2023
- Check your small business website for outdated pandemic changes, missing info - January 31, 2023
- Rural Tourism Trend: electric vehicle chargers can drive visitors - January 15, 2023
- 2023 trends for rural and small town businesses - December 26, 2022
- Local reviews on Google Maps drive enduring value - December 17, 2022
- Extra agritourism revenue from camping, cabins and RVs with HipCamp - December 12, 2022
- Harvest Hosts attract vanlifers and RV tourists, Boondockers Welcome - December 2, 2022
- Holiday 2022 marketing: Tell your founding story - December 1, 2022