Given is the chart illustrating data on the money American residents gained and their expenses in the year 2013, outlining a comparison among age groups with dollars as the unit. Overall, the spent money did not surpass the income in all listed age groups, except for the youngest on the list. It is also apparent that while the aforementioned group earned the least amount of income in parallel with spending the least expenses, the opposite state was seen in the group of middle-aged people aged from 45 to 54.
Evidently, the widest gaps between income and spending were seen in the groups of American citizens aged from 35 to 64, with the most significant figures belonging to the 45-54 age group. Specifically, people in this age group earned nearly 80.000 dollars as their income while contributing just above 60.000 to their spending purposes. Despite experiencing the same pattern, the gap between money earned and expenditures was narrower in the other two groups of residents aged 25-34 and 65-74. To be more specific, the former group got nearly 60.000 dollars as their earnings with about 48.000 dollars spent, while the latter’s figures were 54.000 and 46.000 respectively.
Meanwhile, both the youngest and the eldest groups witnessed different patterns compared to the previously mentioned groups. As the only group that had a balance between the money in and out, people over 75 earned about 35.000 dollars, the same as their expenses. Concurrently, people aged under 25 who seemed to be impulsive when spending, registering their expenditures far overtaking their income.