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How We Spend Our Money - A Breakdown

The document discusses a treemap visualization that analyzes household spending across different dimensions such as Year, Income, and Household Composition. It highlights key spending categories, particularly Housing, and contrasts spending behaviors between the highest and lowest income groups. The visualization provides detailed insights into specific expenditures, revealing trends related to family responsibilities and disposable income.

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Eikluvya Murray
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12 views5 pages

How We Spend Our Money - A Breakdown

The document discusses a treemap visualization that analyzes household spending across different dimensions such as Year, Income, and Household Composition. It highlights key spending categories, particularly Housing, and contrasts spending behaviors between the highest and lowest income groups. The visualization provides detailed insights into specific expenditures, revealing trends related to family responsibilities and disposable income.

Uploaded by

Eikluvya Murray
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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The graph that I selected shows where the money is spent by the people.

This visualization
helps the user analyze spending by three different dimensions - Year, Income and Household
Composition. The data is presented in the form of treemap. This visualization helps in data
analysis of spending category along with detailed view of the spending category in a very
compact space. This visualization consists of nested rectangles with each rectangle specifying
the spending category. The size of the rectangle is proportional to the amount of money spent
in that specific category. Just by looking at the size, one can quickly figure out where most of
the money is being spent. A specific color is assigned to the topmost spending category and
each subcategory of spending is of a different shade of the same color. As can be seen from
the image below, Housing category seems to be of blue color and the subcategory like Rented
Dwellings, Property Taxes etc. is of a different shade of blue based on the percentage of total
spending for that specific category. Darker the shade, the higher the sending. Hovering over
the individual rectangle provides the actual spending and the percentage of total spending for
that specific spending category.
The visualization gets very interesting when one analyzes the data for the income group of
Highest 20%. Housing seems to be the biggest expenditure category irrespective of the
Income group. This is obvious as everyone needs a place to stay. However, People in the
highest 20% income group spent more on mortgages as compared to people in the lowest
20% income group (8% to 11%). It can be inferred that people in the income group of the
highest 20% prefer to own homes as compared to people in the lowest 20% income group.
This totally makes sense as it’s easier for people in the highest 20% income group to get
loans to buy homes. It is also noticeable that people in lowest 20% income group spend only
2% of total spending on Insurance and Pensions as compared to 15% by highest 20% income
group. Given that people in the lower-income group have less disposable income, they prefer
to spend their income on necessities like Food, Housing and utilities etc.
Furthermore it is interesting to note how detailed the tree-map gets with regard to the
differententries under the expenditures made in a particular year. For example , the
graphic gets as detailed as illustrating how much per centage of the income in a year is spent
on a sub entry such as beef or pork or even fresh fruits under the main head of food. It is
pertinent to note here that the graphic presents these entries with such variations made under
different income groups (ranging from the lowest 20 % to the highest 20%) as well as
different household compositions (ranging from single or single parent to married or married
with kids) .
It is phenomenal to see how such intricate details of a household can be presented with
comparisons across variables . The visual makes it easier to assimilate and analyse with great
clarity , such amount to data which paints a picture to the viewers , who may draw their
significant inferences from the same . One such example is how the visual shows that
individuals who are single tend to pay less for insurance and pensions , thus highlighting how
responsibility comes with family , and the spending on insurance policies and pensions
increases considerably with the increase with family members .
References:
Yau ,Nathan ; How We Spend Our Money, a Breakdown
https://flowingdata.com/2015/04/02/how-we-spend-our-money-a-breakdown/

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