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

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bar graph illustrates the amount of

money

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spent on ten different household categories

further

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broken down into three

income

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brackets (low, medium and high).

Overall

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, most of the

money

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the spent on housing

whereas

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the least amount of

money

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was spent on eating outside,

this

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was consistent with all three

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groups.

However

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

such

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as food (at

home

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), transport and utilities. The high-

income

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bracket invested heavily in retirement savings. Analysing the graph

further

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

income

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groups spent

money

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

home

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

home

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) and two more per cent on utilities.

On the contrary

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, 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

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was closely followed by transport with one

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cent less. The least amount of

money

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was spent on eating at

home

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

income

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brackets.