Band 7+: The chart below gives information about the ratio of income to spending (in dollars) by Americans by age range in 2013. Summarise the information by selecting and reporting the main features and make comparisons where relevant.

The bar chart illustrates the earning and spending of Americans aged between below 25 to above 75.

Overall, it is clear that the income of Americans was greater than their expenditures, except in the group of Americans who were under 25 and over 75. Furthermore, the 45-54 age group witnessed the highest figures in both income and expenditures of Americans.

Relatively, the spending of 25-to-64-year-olds in America was larger than their income. The income of people aged between 25 and 34 registered the highest place at nearly $80,000 whereas their expenditures were only $60,000. This closely resembled the data on the amount of money spent and gained by 35-to-44-year-olds, with around $78,000 gained compared to $58,000 of expenditures. Likewise, the income of two remaining groups was $12,000-$18,000 higher than their expenditures.

Regarding the figures for the under 25, 65 to over 75 age groups, which registered lower data than previous groups, it is apparent that the incomes of Americans aged below 25 and above 75 are almost as much as their expenditures, at nearly $30,000 and around $32,000, respectively. The 65-74-year-olds, however, saw a significant gap between their revenue and spending, at approximately $25,000.