Financial Confidence

Responsibility
on the rise
Household and spending data across age brackets
from the U.S. Bureau of Labor Statistics provides
another key factor of the confidence equation.
Just when average income growth is slowing for
Americans, financial responsibilities are reaching
their highest point.
Average household size by age
Under
25 Years
25-34
Years
35-44
Years
45-54
Years
55-64
Years
65 Years
and older
2 2.8 3.4 2.7 2.1 1.8
Average mortgage payment amounts by age
Under
25 Years
25-34
Years
35-44
Years
45-54
Years
55-64
Years
65 Years
and older
$449 $2,862 $5,078 $3,950 $3,295 $1,560
Average vehicle payment amounts by age
Under
25 Years
25-34
Years
35-44
Years
45-54
Years
55-64
Years
65 Years
and older
$2,262 $3,641 $4,010 $3,958 $3,275 $2,133
Average yearly expenditures by age
Under
25 Years
25-34
Years
35-44
Years
45-54
Years
55-64
Years
65 Years
and older
$30,373 $48,087 $58,784 $60,524 $55,892 $41,403
Source: U.S. Bureau of Labor Statistics, “Table 1300. Age of reference person: Annual expenditure
means, shares, standard errors, and coefficient of variation, Consumer Expenditure Survey, 2013”
12 Financial Confidence: Examining the U-Curve—and How We Might Improve the Confidence Trajectory