Saturday, May 24, 2008

Blacks and Hispanics spend up to 30% more than whites of comparable income on visible goods like clothing, cars and jewelry

This meant that, compared to white households of similar income, the typical black and Hispanic household spent $2,300 more per year on visible items. To do that, they spent less on almost all other categories (except housing), and they saved less. Researchers found that blacks and Hispanics spent 16% and 30% less, respectively, on education than whites of similar income. They also spent 50% less on health care.

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