Housing, food, transportation, and clothing account for an estimated 66% of income spent for an average American household in 2012.
According to The Atlantic, housing, food and clothing account for more than 60% of expenses for the poor. Basically, most of their income is spent is covering basic needs and not much, or none, is left for savings. The rich, by contrast, have a larger margin that can be spent in entertainment, insurance, and savings.
The share of household spending devoted to food and drink varies widely by country, as shown in the chart above recently published by The Economist using data from the US Department of Agriculture. The chart shows that Americans spend less than 10% of their income on food and drink, whereas people in Cameroon spend close to 50%. What percentage of your income pays for food and drink?
Have you noticed that wealthier neighborhoods have many more trees and vegetation than poorer ones? Tim De Chant set out to prove this observation by collecting satellite images of cities around the World. Check out the collection he put together in his blog post.