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 three per cent 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 three per cent 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
Mangalakumaran.sangeetha