The chart below shows the average household spending pattern for households in three income categories as a proportion of their income. Summarise the information by selecting and reporting the main features, and make comparisons where relevant.

This

bar graph illustrates the amount of

money

spent on ten different household categories

further

broken down into three

income

brackets (low, medium and high).

Overall

, most of the

money

the spent on housing

whereas

the least amount of

money

was spent on eating outside,

this

was consistent with all three

income

groups.

However

, the low and medium class spent most of their funds on everyday essentials

such

as food (at

home

), transport and utilities. The high-

income

bracket invested heavily in retirement savings. Analysing the graph

further

, the low ($15,000-25,000) and medium ($50,000- $75,000)

income

groups spent

money

on similar items with the biggest difference observed in food cooked at

home

and utilities. The former spent about 12% on food (at

home

) and two more per cent on utilities.

On the contrary

, the latter spent approximately only 8% on both these categories. With regards to the

high-incomeincome

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high-income income

bracket (above $150,000), about 16% of their funds were invested in retirement savings,

this

was closely followed by transport with one

per

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cent less. The least amount of

money

was spent on eating at

home

at only 5%. The expenditure on all the remaining categories (clothing, education, entertainment and health) stayed below 10% in all the given

income

brackets.