Compare Spending with Your Peers
I just learned about the launch of a new site that allows visitors to compare their spending habits with their peers. The exact sources of the spending data are unknown but it is broken down by age group, marital/kid status, income, and geography.
Unfortunately, spending data for mortgage and rent costs is not yet available.
Soon to come (they say) is savings data. That will help complete the financial comparison picture.
I left a comment suggesting that they add net worth data. I hope they will stay away from credit scores. That’s the wrong metric to study in today’s economy.
Check the site out – it’s worth a test drive. Just don’t get carried away by favorable comparisons to “normal.” In our culture, being financially normal is probably not what you should aspire to.
Also keep in mind that Bundle’s spending data is extracted from credit card transactions. Folks who tend to use more cash or debit cards may have a substantially different spending profile – in a good way – compared to credit card users.