New Study Reveals How Countries' Spending Habits Change with Income
The article compares how people in different countries spend and save money. Researchers looked at data from 19 countries to see how people's spending habits change as their income changes. They used a model called the Linear Expenditure System to analyze the data. The study found that as people earn more money, they tend to spend a smaller percentage of it on goods and services. This suggests that people save more as their income increases.