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Family Income and Household Expenditure Patterns

Edward Harrison

Consumer household expenditure varies by the income group. Spending patterns also differ by age of household and work status. For example older workers allocate more to retirement, pension, and Social Security funds. US Department of Labor collects household expenditure data based on the income level. We have used two income groups (high - annual income - US$90,469 and medium - annual income US$39,100) to discuss expenditure patterns.