Similar spending patterns amongst income groups

Many thanks to Year 12 student Andrew Reeves for this article from the MailOnline which shows the similarities between what the higher, middle and lower income groups prioritise with regards to their spending.

It classed the rich as those who earn $150,000 and more per year, the middle classes are those who bring in an annual income of between $50,000 and $69,000, while the poor scrape by on between $15,000 to $19,000.

Housing, by far, makes up the largest chunk of citizens’ expenditure. Regardless of income levels, affluent, middle class and poor residents spend a similar percentage on the home – between 26.7 and and 29.2 per cent.

Income groups spending

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