• Privacy policy
  • T&C’s
  • FAQ
  • Meet the Team
  • About The London Economic
  • Advertise
TLE ONLINE SHOP!
NEWSLETTER
SUPPORT THE LONDON ECONOMIC
  • TLE
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Food
  • Lifestyle
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
  • TLE
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Food
  • Lifestyle
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
No Result
View All Result
Home News

Brits left with just £276 a month after bills

The average Brit is left with just £276 a month after bills, a new study has found. A poll of 2,000 adults revealed that after paying out for their rent and mortgage, utility bills, food and other living expenses, just a small amount of ‘spare’ cash is left over for the lighter things in life. […]

Jack Peat by Jack Peat
March 4, 2019
in News

The average Brit is left with just £276 a month after bills, a new study has found.

A poll of 2,000 adults revealed that after paying out for their rent and mortgage, utility bills, food and other living expenses, just a small amount of ‘spare’ cash is left over for the lighter things in life.

Of those polled, 45 per cent even claim to often have months with absolutely no disposable income whatsoever.

And more than four in 10 feel like they are never going to be earning enough money to give them a decent amount of spare cash.

RelatedPosts

Derek Chauvin cuffed and led out of court after being found guilty of murder and manslaughter in George Floyd case

Pick for Britain scheme scrapped after Brits fill as few as 5% of roles

Sunday Times sorry for saying Brits ‘secretly enjoyed’ Philip’s ‘slitty eyes’ gaffe

Dr Hilary clashes with anti-lockdown landlord following shouty exchange with Starmer

It also emerged that for those who do have some money left at the end of their month, eating out is the most popular way to spend it, followed by putting some away towards a holiday and new clothes.

Asesh Sarkar, CEO and co-founder at Salary Finance, the salary linked benefits provider which commissioned the research, said: “For many, the main reason for going to work is to earn a living.

“But while we want to be able to pay the bills, it would be nice to have at least a little bit left over to spend on some of the lighter things in life.

“Unfortunately, it seems for many, there is just not enough money to go around and they are left with very little spare cash after paying out for all of the essentials.

“This can lead to feelings of stress and even depression concerning financial wellbeing, which can impact people both personally and professionally.”

Researchers found the rent or mortgage takes up the biggest chunk of cash from the average monthly income of £1,812, while food and drink accounts for just over £222 per person each month.

Utility bills take another £188 a month, while TV, internet and phone costs add another £61 to the total monthly expenditure.

Other direct debits, credit card and loan repayments and even the cost of commuting also adds up over the course of a month.

As a result, the average adult estimates they spend just £201 a month on items they would describe as ‘luxuries’.

Eating out accounts for around £61 a month, with another £72 spent on going out with friends and socialising.

Almost £40 a month is also splashed out on sports and hobbies.

For parents, they have even less spare cash with the average mum and dad saying their monthly disposable income dropped by £231 after having children.

They also face extra monthly bills, including childcare costs of almost £46 and school-related expenses amounting to more than £50 a month.

It also emerged more than one in 20 would describe their financial situation as ‘poor’, while another 33 per cent say they ‘just about make ends meet’.

And 41 per cent admitted to feeling envious of friends, relatives and colleagues who seemingly have more disposable income than they do.

But while 49 per cent of people set a budget to try and make their money last the month, 22 per cent usually fail to stay within their limits, going an average of £122 over budget each month.

More than three in 10 of those polled via OnePoll also admit they would have more money and disposable income if they were better at budgeting and managing their money.

Asesh added: “Money worries affect 40 per cent of UK employees, and our extensive research within this sector shows that this is not linked to salary amount as you may expect.

“In fact, financial wellbeing is related more to saving, spending and borrowing habits, meaning those that do manage to save some money each month feel happier and are less stressed by their financial situation.

“Of course, we know a lack of disposable income, among other things, can make saving hard to spend, including barriers such as time.

“That is why salary linked saving can be beneficial to many, as money is directed straight into a savings account meaning it is not ‘missed’ and there is no time spent popping this money into a savings account.

“This helps people feel happier knowing that they have this money for any emergencies – or treat themselves on a rainy day.”

RELATED 

Making the poor more well off would benefit everyone, so why aren’t we doing it?

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Support fearless, free, investigative journalism Support fearless, free, investigative journalism Support fearless, free, investigative journalism

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending fromTLE

  • All
  • trending

What If We Got Rid Of Prisons?

Stress, fear and homelessness: The threat looming over families confronted with eviction

File photo dated 07/11/03 of a prison cell.

The Other Prison Pandemic

Latest from TLE

Derek Chauvin cuffed and led out of court after being found guilty of murder and manslaughter in George Floyd case

Plan for White House-style briefings scrapped despite £2.6m being spent on venue

Pick for Britain scheme scrapped after Brits fill as few as 5% of roles

Watch: Protesting Chelsea fans celebrate as Blues pull out of Super League

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

Contact

Editorial enquiries, please contact: jack@thelondoneconomic.com

Commercial enquiries, please contact: advertise@thelondoneconomic.com

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Lifestyle
  • Food
  • Property
  • Travel
  • Tech & Auto
  • About The London Economic
  • Meet the Team
  • Privacy policy

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.