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 graph illustrates the amount of annual income and expenditures across seven specific age groups in the year 2013. Values are measured in dollars. Overall, it can be seen that while the figures for both income and expenditure are highest among people aged 45-54, they are lowest for those under 25.

In detail, in terms of income, the levels for income individuals aged 35-44 and 45-54 were nearly similar (about $79000), which was more than double that of those aged above 75 (about $32000). Turning to individuals in the 65-74 age group, their income was $52,000, which was double that of those under 25 (roughly $28000).

Regarding the expenditure, the figure stood at $60000, followed by people aged 35-44 and 55-64, at $58000 and $54000 respectively. The figures for people’s expenditure aged 25-34 and 65-74 were nearly identical, at $48000 and $45000 respectively. Similarly, the amount of expenditure for individuals who were over 75 ($32000) was slightly higher than that of those under 25 ($30000).