Americans spend a lot of money. So much so that outstanding credit card debt topped $1 trillion in 2016.
Where exactly are consumers blowing their paychecks?
As expected, housing is the largest expense — and a category that is only becoming more expensive — but Americans are also shelling out thousands of dollars per year on clothing and entertainment. In fact, consumers are spending more on clothing than they are on education.
That's according to cost information site Howmuch.net, which used data from the Bureau of Labor Statistics to analyze spending trends in America from 1941 to 2014 across 12 categories: Reading, alcohol, tobacco, education, personal care, miscellaneous, recreation and entertainment, health care, clothing, food, transportation and housing.