|Figure 39. Average annual expenditures of households, by type of expenditure and age of head of household: 2001|
|1For owned dwellings, includes interest on mortgages, interest on home equity loans and lines of credit, property taxes and insurance, refinancing and prepayment charges, ground rent, expenses for property management and security, homeowners' insurance, fire insurance and extended coverage, expenses for repairs and maintenance contracted out, and expenses of materials for owner-performed repairs. For rented dwellings, includes rent paid for dwellings, rent received as pay, parking fees, maintenance, and other expenses.|
2The age of the reference person designated as the head of household. The reference person is the first member mentioned by the respondent when asked to, 'Start with the name of the person or one of the persons who owns or rents the home.' It is with respect to this person that the relationship of other household members is determined.
SOURCE: U.S. Department of Labor, Bureau of Labor Statistics, Consumer Expenditure Survey: Integrated Survey, 2001.
Households headed by young adults under 25 spent less than the average household in almost every category in 2001, with the exception of education, where young adult households spent more. Compared to other household expenses, the average household (including those headed by young adults) spent a large percentage of their expenditures on housing and transportation in 2001 (33 and 19 percent, respectively). Without consideration of the size of the household, households headed by young adults spent a greater percentage of their money on food items away from home, alcoholic beverages, tobacco and smoking supplies, and education compared to the respective percentage for all households in 2001. The average household spent a greater percentage of their money on health care, personal insurance and pensions, reading materials, and cash contributions than those households headed by young adults under the age of 25.