How we spend our money?

Averages represent nothing and nobody. They are taking, for example every income from £10 a year to £10 million plus, adding them up and dividing by the sample size. In theory half the population has more than average and half less.

Take lots of averages and it is even less likely that it can represent even one person, let alone many. It is nearly a mid point.

Personally, if it was possible, I would ban the use of averages in relation to social statistics, in favour of standard deviation measurements that would give a statement like: 60% of the population have incomes between £300 - £800 a week., 60%, (not necessarily the same people) spend between £5 - £100 on transport, and so on.

Yes of course Monica statistics can always be used in different way and I doubt that everyone would be satisfied whatever method they used to interpret them. However I do think it is interested to measure oneself against the average.

Spending on alcohol has gone down which is surely good.

Not surprised that younger people are spending on takeways, we very rarely have them. Just when my cousin comes over from abroad I think.

Also interesting that older people are spending a lot on their homes. Are they improving them for sale or perhaps making changes which enable them to stay in their homes when they become less able?

Nonnie, there we differ. Generally, I can see no point in comparing myself with the average because it is a meaningless figure.

Yes, something like the spending by older people is noteworthy, but again it tells us nothing.

The age range covered by this figure is large. Some are retired some still have nearly 20 years of their working life still ahead of them. They also give no guide as to what the value of the housing costs are, to know how much the quarter spent on home improvements and alterations is. Since many older people own their own houses, and tenants rely on their land lord for improvements the figure may be very small.

The expenditure could also be the result of younger people in this group making sure their houses are in perfect condition ahead of an income drop on retirement or the inevitable work one does to a house following a move, if people downsize or move before or during retirement, or, as you say, they could be spending preparatory for sale or adjusting as they age.

I just think these figures are too general to tell us anything about how people spend their money or the range each average costs.