The bar chart illustrates the percentage of average household expenditure based on three different groups of salary (low, medium and high).
Overall, families spend the most proportion of their salaries on housing regardless of the amount they get while they tend to use the least for eating out. Low-income households can be seen spending the least amount of money on education and retirement savings.
All three groups of households defined by their wages use the most on housing just under 30% of their wages. Families in the low-income category which ranges from $15000 to $25000 tend to use a higher percentage of their income on food, utilities and health with 12%, 13. 5% and 8% respectively compared to the other two groups.
Families that earn above $150000 are found to spend more on entertainment, education and retirement savings with 6%, 5% and 16% respectively while low paid families spend the least on these categories. The medium income families always use their salary between low and high-income families except for transportation which is 19%. They spend as much money as highly paid households on housing. All groups are found to use just above 5% on clothing.
The bar chart illustrates the percentage of average
household
expenditure based on three
different
groups of salary (low, medium and high).
Overall
,
families
spend
the most proportion of their salaries on housing regardless of the amount they
get
while they tend to
use
the least for eating out. Low-income
households
can be
seen
spending the least amount of money on education and retirement savings.
All three groups of
households
defined by their wages
use
the most on housing
just
under 30% of their wages.
Families
in the low-income category which ranges from $15000 to $25000 tend to
use
a higher percentage of their income on food, utilities and health with 12%, 13. 5% and 8%
respectively
compared to the other two groups.
Families that earn above $150000
are found
to
spend
more on entertainment, education and retirement savings with 6%, 5% and 16%
respectively
while low paid
families
spend
the least on these categories. The medium income
families
always
use
their salary between low and high-income
families
except for
transportation which is 19%. They
spend
as much money as
highly
paid
households
on housing. All groups
are found
to
use
just
above 5% on clothing.