Spending Patterns of High-income Households

Abstract

[Excerpt] Although, less than 6 percent of the Nation’s consumer units (CUs) had annual incomes of more than $90,000 in 1994-95, these households accounted for over 14 percent of total annual spending. High income households spent about$405 billion of the $2.8 trillion total outlays of complete income reporter households. These high-income households, on average, spent more than other households (see table), and they allocated their expenditures differently (see chart). Households with annual incomes of more than$90,000, allocated larger shares to food away from home; housing operations, supplies and furnishings; personal insurance and pensions; cash contributions; entertainment; and apparel and services. Households with lower annual incomes allocated larger shares to food at home, shelter and utilities, transportation, and health care