How The Poor, The Middle Class And The Rich Spend Their Money

From NPR’s Planet Money:

Both the similarities and the differences are striking.

Everyone devotes a huge chunk of their budget to housing, for example. Poor, middle class and rich families spend similar shares of their budgets on clothing and shoes, and on food outside the home.

But poor families spend a much larger share of their budget on basic necessities such as food at home, utilities and health care. Rich families are able to devote a much bigger chunk of their spending to education, and a much, much bigger share to saving for retirement. (The retirement line includes contributions to Social Security and to private retirement plans, by the way.)