Average Spending Share by Life Stage
Elderly households allocate the largest share to healthcare, while students concentrate spending on food and discretionary goods.
Discretionary Share by Number of Children and Life Stage
Having more children consistently reduces the share of spending on discretionary goods, with the effect held constant in the model to isolate the income effect.
Spending Composition Across Income Quartiles by Life Stage
As income rises, discretionary share grows most noticeably for students, while elderly households see relatively stable composition across quartiles — consistent with the model’s finding that the income effect on discretionary spending is strongest for the youngest group.