With tax season over more many of us, the visualization website Engaging Data recently took a look at US household spending using data from the US Bureau of Labor Statistics. The interactive chart (click on it) breaks down spending and income data into many categories that are aggregated and plotted into a Sankey graph.
One of the key factors in financial health of an individual or household is making sure that household spending is equal to or below household income. If your spending is higher than income, you will be drawing down your savings (if you have any) or borrowing money. If your spending is lower than your income, you will presumably be saving money which can provide flexibility in the future, fund your retirement (maybe even early) and generally give you peace of mind.
Click here to read the full story at Engaging Data.
