Money Supply and the Money Multiplier. Money, either in the form of currency or as bank reserves, is a liability of the central bank. The central bank controls the monetary base, expanding or contracting it at will, according to the needs of the economy.
Whole life is also more expensive because of the costs of storing and investing your premium money. Unlike term, the money that you put into your whole life policy can be borrowed from the policy if you need it. Term policies only collect enough to cover the cost of your insurance, and have no cash value.
If you have a family of your own, then you know full well how much money it takes to keep everyone sheltered, fed and clothed. The basic necessities of life aren't cheap these days, and things get even pricier when your tastes get more refined. As your paycheck grows, you may find that your preference for nicer restaurants or designer clothing increases as well. This is one reason why it's so tough to calculate averages for family spending. Every family is different, with a range of priorities and tastes, and that can greatly affect the amount of money they might spend on something like clothing.