Lakeland Real Estate and Consumer Update: Your Money – Where Does it Go?

Lakeland Real Estate - Consumer SpendingLakeland, Florida Consumers – like those anywhere – are looking at their bank accounts now – here on the 4th of August – and wondering – man!  Where did my paycheck go?

The bills come in fast and hard – and before we know it, whammo!  A big fat chunk of our last paycheck has flown the coop!

If you’re like most U.S. consumers, more than half of your money goes to housing and transportation costs.

This is pretty much a constant  – whether here in Lakeland, Florida or anywhere else in the United States.

In fact,  the  government’s most recent Consumer Expenditure Survey shows us that spending patterns haven’t changed much from year to year.

Using on the survey’s industry-by-industry breakdown, we can see how much monthly housing payments and daily commuting costs impact a household’s budget.

For the budget-conscious, going out less often and bargain-shopping can help pad the bottom line, but not as much as living in a less expensive home or moving closer to work.

Even a mortgage loan refinance into lower rates can make a difference.

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