Consumer Spending by Generation: Makeover Monday 2019 Week 13
This week the data for #MakeoverMonday shows how each generation spends its money and comes from Bank of America Merrill Lynch and the original visualization was reprinted at Yahoo! Finance.
The graph on the left is basically a recreation of the original which I think was fairly well designed. The number of categories is small enough that it is still easy to read and in total the chart is easily understood. The only changes I made were switching the order of the generations to be oldest on the left and youngest on the right and removing the y-axis values since the labels provide all of the needed information.
While this original graph shows a number of differences among the generations, I wanted to look at a more broad view by grouping spending on food (including groceries and restaurants), gasoline, and pharmacies as necessities and comparing it to the rest. At this level of aggregation, there is only a relatively small difference among the generations. Although eating at restaurants is not a necessity and the percentage spent at them is markedly different across generations, the total spent on food, groceries plus restaurants, is not.