The chart illustrates the average domestic expenses for households in three income groups as a percentage of their income.
Overall, the highest proportion of income is spent on housing by all three households. It is also evident that the higher the household income, the higher the proportion of income spent on categories like retirement savings, entertainment, clothing and education while the inverse is true for categories like food(at home) and utilities.
On housing, in all three income categories, the largest proportion of household income goes to housing at just below 30%. In addition, the proportion spent on retirement savings increases with the level of house hold income with the low income household spending under 5% on this category, the medium income household spending about 10% and the high income household spending over 15% on the same category. Similarly, the percentage spent on education, clothing and entertainment categories increase as household income increases with less than 5% being spent one education by low income households, 5% being spent on the same categories by medium income households and over 5% bing spent by high income households.
By contrast, the percentage spent on categories like food(at home) and utilities decreases as the household income increases with over 10% being spent on food(at home) by klow income households, less than 10% spent by medium income households on the same category and 5% spent by