What does your personal budget look like? If you've never put cursor to spreadsheet to figure that out, the flagging economy may soon force your hand. If you have, and are dismayed by the data, you might want to think hard about where those precious dollars are going--and why.
For some valuable perspective (and perhaps belt-tightening inspiration), take a look at global consumer-spending patterns. Data from the World Bank's most recent and hugely comprehensive International Comparison Program study breaks global individual consumption into 11 buckets--from food and clothing to health care and recreation.
Click here to learn more about world spending at our partner site, Forbes.com.
Forbes.com took a snapshot of overall allocations for 18 countries, measured as percentages of total individual consumption (rounded to the nearest percent). While the figures capture patterns as of 2005, recent inflation in energy and food prices no doubt has shifted these results a bit.
The most striking--and downright shocking--data are the disparities in the relative chunks of income that go toward food and drink. Impoverished denizens of Ethiopia and Egypt, for example, spend an estimated 55% and 43% of their incomes, respectively, on food and non-alcoholic beverages (excluding purchases made at restaurants, bars, hotels and the like). Americans and Canadians: just 6% and 8%.
On a happier note, Russians and Croatians clearly like to party: They set aside 6% and 5% of their budgets for booze, tobacco and narcotics, more than the rest of the countries on our list, while Saudi Arabians' conservative intake barely registers in the numbers.
Russians also spend freely on clothing and footwear, which gobble 9% of their outlays, versus just 4% for ostensibly hungry U.S. consumers. One reason for the disparity: the flood of artificially inexpensive imports to the U.S. from China.
What Russians don't seem to be shelling out for is shelter and power--the combination of housing, water, electricity, gas and other fuels merits just 9% of Russians' overall consumption--thanks in part to lingering Soviet-era subsidies. Turkish consumers, who enjoy few subsidies while suffering high taxes, spend 24% of their incomes on these necessities, the highest of the bunch.
