The bar chart illustrates how households allocate their weekly earnings on goods and services in two different periods: 1968 and 2018.
Overall, the two different eras of spending have vastly diverse fund managements, however, with the exception of household goods staying the same.
In detail, the expenditure on Food had plummeted to around 16% in 2018, in comparison to the former 35% of weekly income. Similarly, the cost of fuel and electricity had undergone a minor decrease leading to 4% of weekly revenue, whereas in 1968, it was much higher at approximately 6%. Likewise, the expense of attires have somewhat lowered from 10% to 5% in 1968 and 2018 respectively. The rate of disbursement for posessions had nearly halved ,in 2018 compared to 1968. In 2018, the cost of housing had sky rocketed to 18%, in relation to the former 10% in 1968. Back in 1968, homes used to distribute around 8% into their leisure expenditure, which surged to 22% in 2018. Household amenities, on the other hand, had remained the same.
In conclusion, the prices of general goods had lessened, whereas the service charges soared skyhigh in 2018.
