Tuesday, February 18, 2014

How much do we spend on booze throughout our life? Probably too much.

ILC-UK has partnered with the Personal Finance Research Centre at Bristol University (PFRC) to better understand how our expenditure habits change throughout your lives. This research focuses on one item of expenditure (alcohol). The chart shows the equivalised household data (i.e. takign account of household size by applying the OECD equivalence scale that takes account of household composition).

It doesn't take a statistics genius to notice the increase in spend by the 65-69 year old. As the researchers explain, there are numerous factors that also affect the level of spend,  including housing tenure, employment status, income, social class, geographical location, mobility and health.

That said it is an interesting analysis. The other thing to say is that this analysis only works for the cohort of people being analysed. Who can tell what the profile will look like in twenty years time? Dick Stroud

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