Americans’ ‘Headaches’ Are Eating Into Their ‘Nice Things’February 18, 2013 3:41 pm
We had spotted some stats on how Americans are actually responsible when it comes to spending money – that analysis on consumer expenditure over the years gave us another important insight – that the ‘headache’ elements of American life are slowly but definitely eating into the ‘Nice Things’.
This analysis is based on expenditures as a percent of annual income, and we have taken some liberty in defining which line items constitute ‘Headache’ and which line items constitute the ‘Nice Things’ (Details after the chart)
Line Items considered for ‘Basics’: Food, Housing, Transportation, Education
Line Items considered under ‘Headaches’ – Healthcare, Personal Insurance and Pensions
Line Items considered under ‘Nice Things’ – Apparel, Entertainment, Personal Care, Tobacco, Miscellaneous.
If you just glance at the chart you might not see the difference – but if you see more carefully, you will see an unmistakable trend – the headaches are slowly but surely eating into the nice things.