Learn how your spending compares to others in your generation using insights from the Bureau of Labor Statistics’ annual Consumer Expenditure Survey.
How does your spending compare to other people your age? Are you saving enough compared to others in your generation? Hosts Tess Vigeland and Anna Helhoski are joined by NerdWallet’s Senior Economist Elizabeth Renter to break down the latest Bureau of Labor Statistics Consumer Expenditure Survey. They dive into how income and spending patterns shift across generations, from Gen Z to the Silent Generation, and discuss average income peaks, the changing ratio of spending to income, and how generational differences in housing, healthcare, and food expenditures reflect larger economic trends.
Enter your monthly after-tax income into NerdWallet's free budget calculator to create a suggested budget: https://www.nerdwallet.com/article/finance/nerdwallet-budget-calculator
Then, Tess and Anna touch on key money headlines from the week, including updates to IRS tax brackets and deductions for 2025, the CFPB’s action against Apple and Goldman Sachs over Apple Card customer service failures, and the 50th anniversary of the Equal Credit Opportunity Act, which gave women the right to access credit without a man’s signature.
In their conversation, the Nerds discuss: Bureau of Labor Statistics Consumer Expenditure Survey, generational spending habits, income-to-spending ratio, peak earning years, fixed income for retirees, healthcare spending by generation, food spending across generations, retirement savings trends, Gen Z spending habits, baby boomer financial challenges, millennials saving for retirement, housing costs by generation, transportation spending, food away from home trends, discretionary spending, debt in retirement, social security income, average income by age group, and generational wealth.
To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.
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