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Do you ever find yourself wondering where does all your money go? I know I do, and I suspect I’m not alone in this thinking. I can start out with $100 in my wallet and before I blink twice I’ve only got $10 left. My kids often have their hands out, needing money for a field trip, for gas, for food after a game, for a snack at the concession stand. And as adults, we can be just as bad. Spending money on Starbucks or lunch out every day can add up over the course of a year.

As financial planners, we ask clients what their annual expenses are when creating a financial plan. It’s sometimes the hardest question for clients to answer. And once they start calculating that number, clients are usually surprised at how much they spend and where they spend it.

The Bureau of Labor Statistics released a report in September showing where the average household expenditures went for 2017. To those of you who have a household budget, this will be no surprise. But for others, it can be eye opening.