As it turns out, quite a lot. 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. In February, spending on non-essential stuff was up an inflation-adjusted 3.3% from a year earlier, compared to 2.4% for essential stuff such as food, housing and medicine.
Minnesotastan wonders how we define essentials and non-essentials. There are a lot of items that can be defined either way. Braces for teeth? Books? College tuition? Lawnmowers? Where do you draw the line? Link
Then compare that to the cost of living.
Im waiting for the list to contain CARS/Insurance to get to work, as most business over the years has reduced the numbers of outlets to Work at.