Americans buy a trillion more than they need each year

This study just focuses on Americans, but let’s not ignore the fact that Canada spends a lot too, and so do other First World countries.

Other notables are emerging markets like China with a population of 1.3 billion who are starting to get a taste for the ‘good Western life’.

$1.2 trillion: How much Americans spend annually on goods and services they don’t absolutely need.

A non-scientific study of Commerce Department data suggests that in February, U.S. consumers spent an annualized $1.2 trillion on non-essential stuff including pleasure boats, jewelry, booze, gambling and candy.

That’s 11.2% of total consumer spending, up from 9.3% a decade earlier and only 4% in 1959, adjusted for inflation.

Via Wall Street Journal

What I giggled at was “pleasure boats” and “candy”, although come to think of it, they are including high-flyers and children in the mix, aren’t they?

About the Author

I'm a 20-something year old girl who lived out of a single suitcase in 2007, and now I'm living with less, but only with the best. You don't have to get rid of everything to become a minimalist! Minimalism can help simplify and organize your life, career, & physical surroundings. You can read more about me as a minimalist. Or come and visit my other blog Fabulously Broke in the City where I got out of $60,000 of debt in 18 months, earning $65,000 gross/year.