Personal Finance in Terms of Income and Expenditure Aspects
Personal Finance in Terms of Income and Expenditure Aspects

Author(s): Marlena Piekut
Subject(s): Micro-Economics, Economic development, Socio-Economic Research
Published by: Masarykova univerzita nakladatelství
Keywords: consumption; households; expenditures;
Summary/Abstract: The aim of this paper was to emerge the groups of households having similar level of both incomes and expenditures per equivalent unit and to give their in socioeconomic, demographic characteristic as well as the characteristic connected with the household localization. The data came from unpublished CSO data for household budget investigations. The applied testing methods were both k-means cluster analysis and discriminant function analysis. Five groups of households were distinguished, they differ with respect to their incomes and expenditures. The determinant most seriously affecting both incomes and expenditures of the households turned out the following: household head education level, household size and its socio-economic situation. Households with the lowest incomes and expenditures were connected with variables such as lower household head education level, larger number of family members and the location in rural areas. On the other side, the households with the best financial situation were the ones in which household head had university degree, was employed at white-collar position and the household was placed in a city.

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