This graph shows how we spend our money each month in South Africa

A new report by Standard Bank reveals the monthly spending habits of households in South Africa.
The bank notes that 62.3% of households fall within the poorest income bracket – below R86,000 per annum, while middle income groups (R86,001- R1.48 million per annum) comprise a combined 26.4% of South African households.
The wealthiest households in South Africa only account for 1.2% (R1.48 million – R2.36 million+ per annum).
According to Standard Bank, the largest components of household expenditure are food, beverages and tobacco (20%) and contributions, which refers to instalment type payments and includes medical aid, insurance and pension fund contributions (29%).
Transport comprises 15% of aggregate household expenditure. This includes petrol and purchases of new vehicles.
Health accounts for 6% and housing, electricity, gas and fuels for 5% of aggregate household spending.
Education is only 3% of spending. This includes primary, secondary and tertiary education.
Up to 60% of household spending is on essential items and 40% on non-essential items.
The bank found that 59% of expenditure by low income households is on non-durable goods, primarily food, making these households more susceptible to food inflation.
It said that 8.8% of spending is on semi-durable goods and only 3.5% of low income household expenditure is on durable goods.
Between 22% and 40% of spending by middle income households is on non-durable goods and 5% and 10% on durable goods, while 15-23% of spending by high income households is on durable goods, making these households more sensitive to currency weakness and interest rate hikes.
Spending on services tends to comprise a similar percentage of each household budget i.e. between 25% and 33% of household spending.
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