Household Budget Expenditures

(Billions 2012$)

Trends 2012-2019
Household budget expenditures increased by over 40% from 2012 to 2022, only decreasing from 2019 to 2020.

Calculation

Household Budget Expenditures for the State of Maryland were taken from the Bureau of Economic Analysis Personal Consumption Expenditures by state and are representative of the total household expenditures in any given year. This is the starting point for measuring well-being in Maryland, with subsequent costs or benefits adding or subtracting to this basic measure of spending.

What are we measuring?

Household budget expenditures are the sum of everything we spend money on, including food, shelter, schooling, and entertainment. This is the starting point from which we measure well-being; the other indicators serve to either increase or decrease the base spending at the household level in Maryland.