Compare Spending with Your Peers

January 20, 2010 by  
Filed under Spending

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.

The site is Bundle.com. It is still under development but there is spending data available for comparison in the following categories: House & Home, Travel & Leisure, Getting Around, Health & Family, and Shopping.

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.


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Comments

3 Responses to “Compare Spending with Your Peers”
  1. P.T. says:

    Cool site. But I spend way less than most people on food and dining out. I wrote a post about my meal costs and posted my yearly budget on my website. I like to compare my spending habits with others. Everyone has different priorities!

  2. MasterPo says:

    I’m trying to cut waaaaaaay back this year. Not easy but so far better than last year.

    Which, ironically, will hurt the economy. :-(

  3. Bytta says:

    Greetings from Australia!
    First-timer here and I’m enjoying the tough-love-no-bullshit approach to PF. I checked out the website and am proud to say that our household spending is way below the “normal” or average spending amount of our peers. Even though the data is US-based, I suppose the spending pattern and amount of people in most western countries within an income group would be rather similar (since we’re also afflicted with similar type of inflated lifestyle). And yes, there’s also a Melbourne in US too :)
    Cheers,
    Bytta

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