The bar graph illustrates the mean household spending trends in three different household income categories given as a proportion of their earning. Low income household ranges from $15,000 to $25,000, medium one between $50,000 to $75,000, and finally the high income category lies above $150,000 earners.
Overall, the three categories put in the highest amount of their income towards housing. Low and medium income holders spend approximately 28% of their overall household income. Building on this, transport is seen to be the second category on which all three types of earner spends the most. Moreover, it can be inferred that low household income people have the highest spending on categories such as food (at home), utilities, and health. However, for the rest of the categories high income households are observed to be spending more, such as on eating out, entertaintment, clothing, education, and retirement savings.
Interestingly, high household income holder spends most of thier earning on retirement savings. It is depicted by the huge difference in their contributions: approximately 3%, 10%, and 17% spend respectively by low, medium, and high household income persons.