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_____________________________________________ | | | | | | Type of expense and |Percent |Percent | portion of earnings spent| of | of | | 1981 | 1990 | |seniors |seniors | | | | _________________________|________|_________| Savings for education None or only a little ... 70.2 73.1 Some .................... 12.4 10.7 About half .............. 6.4 7.5 Most .................... 6.4 4.5 All or almost all ....... 4.6 4.2 Car expenses None or only a little ... 62.4 58.2 Some .................... 14.7 14.9 About half .............. 11.1 11.3 Most .................... 6.6 8.5 All or almost all ....... 5.3 7.2 Long-range savings None or only a little ... 70.7 73.4 Some .................... 13.4 12.7 About half .............. 7.0 6.5 Most .................... 4.3 3.4 All or almost all ....... 4.6 4.0 Personal items None or only a little ... 24.6 24.9 Some .................... 19.1 18.7 About half .............. 17.1 16.7 Most .................... 16.8 16.7 All or almost all ....... 22.4 23.1 Family expenses None or only a little ... 82.0 82.0 Some .................... 9.7 8.8 About half .............. 3.6 3.5 Most .................... 2.0 2.0 All or almost all ....... 2.8 3.7 ____________________________________________
_________________________________________________________________________________ | Percent of 1991 seniors |_______________________________________________________ Type of expense and | | Sex | Race | | Not portion of earnings spent| |_____________|_______________|Planning|planning | Total | | | | |to go to|to go to | | Male |Female| White | Black | 4-year | 4-year | | | | | |college |college _________________________|_______|______|______|_______|_______|________|________ Savings for education None or only a little ... 72.4 70.6 74.4 71.3 77.5 69.5 79.0 Some .................... 10.6 11.0 10.1 10.9 8.4 11.3 9.0 About half .............. 7.7 8.4 6.8 7.3 9.0 8.9 5.1 Most .................... 4.5 4.5 4.5 5.1 2.4 5.1 3.0 All or almost all ....... 4.9 5.6 4.2 5.4 2.7 5.2 3.8 Car expenses None or only a little ... 57.0 50.9 63.4 54.2 67.8 60.8 47.7 Some .................... 16.1 17.5 14.9 16.4 11.8 15.7 17.3 About half .............. 11.0 12.8 9.2 12.2 10.0 9.5 14.6 Most .................... 9.0 10.9 6.6 9.7 5.6 9.0 8.6 All or almost all ....... 6.9 8.0 5.9 7.4 4.7 5.0 11.8 Long-range savings None or only a little ... 71.2 69.6 72.9 72.1 69.6 70.7 72.0 Some .................... 15.3 16.0 14.5 14.9 15.8 16.0 14.4 About half .............. 5.9 6.0 5.9 5.5 7.8 6.0 4.8 Most .................... 4.2 4.3 3.9 3.7 5.5 4.1 4.6 All or almost all ....... 3.4 4.1 2.9 3.9 1.4 3.3 4.2 Personal items None or only a little ... 23.1 25.2 20.6 22.2 25.2 22.0 26.4 Some .................... 20.3 20.7 19.7 21.0 16.5 20.9 19.4 About half .............. 16.5 17.3 16.1 16.6 14.3 16.6 16.6 Most .................... 16.5 16.8 16.2 18.2 12.2 18.1 12.4 All or almost all ....... 23.5 20.0 27.3 22.0 31.8 22.6 25.1 Family expenses None or only a little ... 80.7 81.6 79.8 86.9 60.2 82.4 76.4 Some .................... 8.4 7.6 9.2 6.4 15.9 7.7 10.2 About half .............. 4.9 5.0 4.9 3.5 11.4 4.8 5.4 Most .................... 2.4 2.4 2.4 1.3 4.0 2.0 3.4 All or almost all ....... 3.6 3.4 3.8 2.0 8.5 3.0 4.7 _________________________________________________________________________________
SOURCE: University of Michigan, Institute for Social Research, Monitoring the Future, 1981, 1990, and 1991.