The table depicts the sum of average monthly income spend in US dollar on five different categories of goods, namely Food, Clothing, Entertainment, Education, and Health by a people of different age groups in 2020.
Overall, it is clear from the table that, the age group 46-55 contribute more in food and less in education among all categories. However, people of every age 18-55 spent most of their amount on food and less in education among all categories. However, people of every age 18-55 spend most of the amount on food. The data in the pie chart reveals, that ratio of total spending is highest or food and lower for education.
Focusing on the data for food, there is a direct correlation .between age and the amount spent. The young individuals (18-25) spent on average of $217 per month. The figure significantly rises to $289for (26-35)age group and reaches $412 for those aged (36-45) . The peak expenditure for this category is found in the (46-55) age bracket, at $ 482 per month. In contrast, other categories like clothing shows different trends for a aged of (46-55) is $27 which may significantly lower than the young demographic. While, other categories like entertainment,, education spendings of individual become lower as age increased. Whereas, in the healthcare sector (46-55) age groups spend the highest amount at $ 149 and least for youngster at $ 22 age categories (18-25).
According to the pie chart food accounts for the largest proportion of total spending a 40%. This is followed by closing at 20%, entertainment and health at 15%. Conversely, education represent the smallest fraction of monthly cost making only up to 10% of the total budget.