Consumer Expenditure Survey · BLS CE 2024 · #4 largest category
Personal insurance and pensions spending
U.S. households spent $9,797/yr on personal insurance and pensions in 2024 - 12.5% of the average budget . Up 2.5% vs 2023 ; the top income quintile outspends the bottom by 38.4×. Figures from the BLS Consumer Expenditure Survey.
- 2024 avg
- $9,797
- Budget share
- 12.5%
- vs 2023
- +2.5%
CES spend plate
Line PERSONAL-INSURANCE · Personal insurance and pensions $9,797 · 12.5%
SHARE-MAJOR · QUINT-ELITE · YOY-UP · REAL-BURDEN · REGION-WEST · BOOK-TOP
- SHARE-MAJOR 12.5% of budget
- QUINT-ELITE 38.4× Q5/Q1
- YOY-UP +2.5% YoY
- REAL-BURDEN Above CPI
- REGION-WEST West leads
- BOOK-TOP #5/99 dollars
Nearest dollar peer: Food (+$372)
Instrument codes from this line’s budget share, income-quintile gap, YoY move, real change vs ~21% CPI-U (2020-2024), regional lead, and corpus book size, not a budgeting recommendation.
Spend neighbourhood around Personal insurance and pensions
Lowest and highest poles plus nearest dollar peers among major categories, not a full-board reprint. Figures from the BLS Consumer Expenditure Survey.
Dollar neighbourhood · Personal insurance and pensions
Average annual spending · 2024 · poles + near peers
this line
Spending Trend (2020–2024)
Personal insurance and pensions spending per household, 2020–2024
National average annual spending
| Year | Annual Amount |
|---|---|
| 2024 | $9,797 |
| 2023 | $9,556 |
| 2022 | $8,742 |
| 2021 | $7,873 |
| 2020 | $7,246 |
Subcategories
How the $9,797 personal insurance and pensions total divides across subcategories (BLS Consumer Expenditure Survey 2024).
| Subcategory | Annual Amount (2024) |
|---|---|
| Life and other personal insurance | $575 |
| Retirement, pensions, and Social Security | $9,222 |
Income stretch on a large personal insurance and pensions line
A large CES line: top-quintile households spend $27,279/yr here vs $711 at the bottom (38.4×).
| Income Group | Annual Amount |
|---|---|
| Lowest 20% | $711 |
| Second 20% | $2,712 |
| Middle 20% | $6,248 |
| Fourth 20% | $11,934 |
| Highest 20% | $27,279 |
West leads personal insurance and pensions geographically
West leads at $11,539/yr among the bigger CES categories.
Lifecycle peak · 45–54
45–54 heads spend the most on this line at $14,948/yr - a lifecycle peak on a large budget share.
Frequently Asked Questions (show 6)
How much does the average household spend on personal insurance and pensions? ▼
Is personal insurance and pensions spending increasing? ▼
How does income affect personal insurance and pensions spending? ▼
Which region spends the most on personal insurance and pensions? ▼
Which age group spends the most on personal insurance and pensions? ▼
Does household size affect personal insurance and pensions spending? ▼
Other large CES lines near personal insurance and pensions
Dollar-amount and budget-share neighbours from BLS CE 2024 (this category excluded).
Similar dollar amount
Nearest other categories by 2024 average annual spending ($9,797 here).
| Category | 2024 avg |
|---|---|
| Food | $10,169 |
| Owned dwellings | $9,310 |
| Retirement, pensions, and Social Security | $9,222 |
| Transportation | $13,318 |
| Food at home | $6,224 |
| Healthcare | $6,197 |
| Rented dwellings | $5,660 |
| Vehicle purchases (net outlay) | $5,337 |
Similar budget share
Nearest other categories by share of the household budget (12.5% here).
| Category | Budget share |
|---|---|
| Food | 12.9% |
| Owned dwellings | 11.9% |
| Retirement, pensions, and Social Security | 11.7% |
| Transportation | 17.0% |
| Food at home | 7.9% |
| Healthcare | 7.9% |
| Rented dwellings | 7.2% |
| Vehicle purchases (net outlay) | 6.8% |
Average household budget · Methodology · BLS CEX source
Informational only - not advice. See disclaimer.