How Do You Compare?
Americans spend between 14 and 19 percent of their gross yearly income on automobile transportation costs on average, according to the Consumer Expenditures Survey by the Bureau of Labor and Statistics (BLS). Gas and oil constitute about 4 percent of gross income and insurance is about 2 percent.
How Your Age Affects Transportation Spending
According to the BLS survey, the average annual U.S. household expenditure for automobile transportation in 2014 was $9,073, nearly 14 percent of all household expenditures. This spending tends to vary with age: