Fourth of July: 7 financial facts about Independence Day

Fourth of July: 7 financial facts about Independence Day

The Fourth of July can get expensive and how Americans spend may surprise you. Here 8 financial facts about the Fourth of July that will blow your mind.

Americans spend close to $6.7 billion on food at cookouts, barbecues and picnics.

Adults spend about $1.6 billion on beer alone. If you include wine, the amount increases to about $1.6 billion.

Over $5 million is spent on importing American flags.

From sparklers to snappers, over $1 billion is spent on fireworks for the Fourth of July.

Nathan’s famous hot dog eating contest held on the Fourth of July is an American tradition that pays winners $40,000.

On the Fourth of July, men spend an average of $78.68 on food while women spend $68.20.

Americans aged 35-44 spend the most money on food. $81.29 per person. The most frugal are aged 65 and above, spending $58 each.