Task 1 The chart below shows the average household spending pattern for households in three income categories as a proportion of their income. Summary the information by selecting and reporting the main features and make comparisons where relevant.

The chart gives information about the average expenditure behaviour for

homes

in relation to their income. The

homes

were divided into

three

levels based on net salaries. It can be clearly seen that all

three

levels of houses spend around one-third of their annual income on housing. High-income

homes

spend more on retirement savings compared to the two other

homes

. All

three

classes spend around fifty per cent of their income on housing and transport combined.

High-income

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The high-income

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class

spends five per cent less on transportation. When it comes to meals, low-income

homes

spend around 12% of their salaries on food

whereas

middle-income and high-income

homes

spend 8% and 5% of their salaries respectively and all

three

types of

homes

use less than 5% on eating out. Low-income families spend two times more on utilities compared to high-income families. All

homes

spend around or less than 5% on environment, education, and clothing. A striking difference between the

three

classes can be seen in one category which is retirement savings where the high-income

class

spends two times more than the middle-income

class

and 3 times more than the low

class

.