The bar graph illustrates how three distinct income classes spend their income on necessities of life. On the basis of household income, these classes have been categorized as low, medium and high.
Overall, all three groups are utilizing almost one third of their income for housing. The expenditures of retirement saving for high income class is quite striking in comparison with that of other two classes. Almost all classes spend the least proportion of their income on education and eating out.
With the maximum percentage of earning, housing is leading all fundamental needs of a household followed by transport. While housing is taking 30% of total remuneration of all families, transportation expense is between 15 to 20% for all classes. Top earning group spends around 17% of what they get after a month in contrast with low income group with the figure of 5% only.
The least prioritize necessities by all classes are education, eating out and entertainment. On average, every household uses 5% on each individual category. After transport, low income class spends most of their income on food and utilities with the figure of almost 12% for each followed by medium and high income household with less than 10% spending.