The charts below show average middle–income families spent their household budget in two different years.
Summarize the information by selecting and reporting the main features and make comparisons where relevant.
The charts below show the household budget allocation of average middle–income families in two different years – 2012 and 2015. In the year 2012, basic needs such as housing, food, clothing, and miscellaneous receive the highest allocation. There is a significant increase in budget allocation for housing, food, and clothing for the year 2015.
In the year 2012, basic needs are prioritized in the budget allocation. Housing receives the highest household budget allocation of 35%. It is followed by food/clothing and miscellaneous with an allocation of 25%. The lowest allocation is for vacation and leisure, with 15%.
In the year 2015, there was a significant increase in the household budget allocation for basic needs. The housing receives 50% of the budget allocation. It is followed by the food budget allocation of 35%. There is a decrease in the budget allocation for miscellaneous and vacation.
Overall, there was an increase in basic needs such as housing, food, and clothing and a decrease in budget allocation for vacations, Leisure, and miscellaneous.
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