What do People Spend Their Money On?
Country of residence, age, and income are among the major indicators of a person’s spending pattern. It is interesting to note that different countries have different priorities in terms of household spending. Although housing, food, and transportation tend to be the top three major categories when it comes to budget allocation, it is interesting to note how it varies from one individual to another.
On a bigger scale, data shows spending patterns vary per country as well. For instance, data from The Economist shows that Japan spends a lot of money on housing, fuel, and utilities with 25.3% allocation. Russia, on […] Read more