Where Has All the Money Gone? [Infographic]

The typical American spends $50,000 a year; $17,000 on housing, $9,000 on transportation, and $6,000 on food. But even with that simple break down, countless people are getting snagged on common spending mistakes that are dragging them down and keeping them from getting out of debt and building wealth.

Thousands of dollars are wasted every year on simple things that could be easily avoided. Utility bills end up being way more than they should be because of a simple leak or outdated HVAC systems. We often get carried away when it comes to going out for dinner, and restaurants rack up a huge bill. Unused gym memberships are a common offender; if you don’t go, don’t pay. Ditch that unnecessary spending.

Once you remove money wasters from your life, it’s time to sit down and make a budget. Two out of three American’s don’t budget at all, leaving them guessing and scrambling for money by the end of the month. In reality, budgeting isn’t that difficult; all it takes is enough self-discipline to follow through with spending decisions. Having a monthly, or even weekly budget can greatly help diminish stress and also be a great way to get ahead on savings.

Take a look at this infographic for more on why all our money is gone, and what you can do to get it back for good. Let us know what you think in the comments and don’t forget to like and share with your friends!

via Business 2 Community http://ift.tt/1dRmzkP