How Does The Us Make Most Of Its Money

Months ago, we showed you a set of data visualizations that highlighted how people make and spend their money based on income groups.

Today's post follows a similar theme, and it visualizes differences based on education levels.

Below, we'll tackle the breakdowns of several educational groupings, ranging from high school dropouts to those in the highest education bracket, which is defined Eastern Samoa having achieved a get over's, professional, or doctorate degree.

Income and spending, aside pedagogy

The data visualizations in today's post pertain United States from Engaging Data and they use Sankey diagrams to display data from the Bureau of Labor Statistics (BLS) that shows income and expenditure differences 'tween varying levels of education in America.

The four charts below will show data from the following categories:

1. Less than high graduateLess than senior high school graduate

2. High school graduate

3. Bachelor's degree

4. Master's, professional, or doctor's degree degree

It should be noted that the educational stratum listed pertains to the someone the BLS defines as the primary menag member. Far, people in households fire be at different ages and at different stages in their career – for instance, someone with a Master's degree could be 72 eld old and collecting pension payments, and this impacts the data.

Less than Alto School Graduate – $28,245 in spending (98.5% of total income)

These contain an average of 2.2 people (0.7 income earners, 0.6 children, and 0.5 seniors)

The mean house in that category brings in $17,979 of salary income, as well as an additional $7,503 from social security programs.

Almost every money (98.5%) is spent, and on average these households are actually pull money from savings (or taking out loans) to make ends fit. The biggest expenditure categories include: housing (23.5%), foot at home (12.3%), household expenses (8.4%), and gas/insurance (8.2%).

High Educate Postgraduate – $35,036 in disbursal (87.3% of total income)

These contain an average of 2.3 people (1.0 income earners, 0.6 children, and 0.4 seniors)

The mediocre household here brings in $29,330 of salary, atomic number 3 well as $9,008 from gregarious security.

These households spend 87.3% of their income, piece putting $3,113 (7.8%) gone in savings each year. The biggest expenditure categories include housing (21.7% of spending), intellectual nourishment at home (10.1%), gas/insurance (10.0%), and vehicles (7.7%).

Bachelor's Degree – $63,373 in spending (68.6% of total income)

These check an average out of 2.5 people (1.5 income earners, 0.6 children, and 0.4 seniors)

Households with at least one person with a Bachelor's arcdegree pull in $81,629 per yr in salary, as well as nearly $11,000 stemming from a combination of social security, dividends, property, and other income.

Roughly 68.6% of income is spent, with 16.6% going to savings. Top expenditures include housing (22.4%), gas/indemnity (8.8%), household expenses (7.9%), and nutrient at home (7.6%).

Graduate Degree – $83,593 in spending (62.9% of total income)

These contain an average of 2.6 people (1.5 income earners, 0.6 children, and 0.4 seniors)

Finally, in the most lettered family uncommitted, the average amount of salary orgasm into households is $116,018, with roughly an additive $17,000 coming in from other sources such as Social Security, dividends, property, and else income.

Here, 62.9% of income gets spent, and 17.3% gets put towards nest egg. The most significant expenditure categories are housing (23.3%), household expenses (8.4%), gas and insurance (7.2%), and food at home (6.9%).

A changing role for education?

For now, there is a clear link between certain types of college degrees and high salaries.

However, equally total student debt continues to hit record highs of $1.5 trillion and as more far educational options proliferate online, it will be stimulating to see how these charts are impacted in the coming years.

By the year 2030, get along you think education will still have the Same strength of correlativity with income levels?