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fubarobfusco comments on Politics Discussion Thread August 2012 - Less Wrong Discussion

0 Post author: OrphanWilde 01 August 2012 03:25PM

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Comment author: fubarobfusco 02 August 2012 05:53:24AM 3 points [-]

http://www.npr.org/blogs/money/2012/08/01/157664524/how-the-poor-the-middle-class-and-the-rich-spend-their-money

Data from the Consumer Expenditure Survey point out some specific differences in how poor, middle-class, and rich people spend their money. The less money you have, the more (proportionally) you have to spend on immediate needs (food, housing, utility bills, transportation, medical care), and the less you have left for long-term goals (education, retirement savings).