The bar chart shows how those on low, medium and high incomes spend their money. Both the differences and the similarities are striking.
Housing costs consume almost a third of each
group
’s Use synonyms
income
and another 15-19% goes on transport. Use synonyms
While
the high-Linking Words
income
earners are able to put 17% towards their retirement, and the medium Use synonyms
group
10%, those on low incomes invest only 3% of their Use synonyms
income
in retirement funds.
All categories spend a similar percentage of their Use synonyms
income
on clothing (around 6%), eating out (less than 5%), and entertainment (4-6%). The lowest Use synonyms
income
Use synonyms
group
spend a higher proportion on their health (8%), eating at home (12%) and paying for utilities (13%) but less on education, which stands at just 3% compared with slightly more for the middle Use synonyms
group
and over five per cent for the wealthy.
Use synonyms
To sum up
, each Linking Words
income
Use synonyms
group
assigns by far the largest portion of their budget to housing and a large portion to transport. Use synonyms
However
, only the rich devote a significant share of their Linking Words
income
to retirement savings. Poor families, Use synonyms
on the other hand
, spend more of their budget on basic necessities.Linking Words
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