A brand new examine has revealed that folks residing in Manchester are spending extra of their month-to-month wage on payments than anyplace else within the UK.
Mancunians are sometimes spending almost 80 per cent of their earnings after tax on issues like meals, hire, payments and journey prices – in comparison with simply 66 per cent for these residing in London.
The latest knowledge comes from Money Supermarket, who’ve calculated how a lot the typical individual within the UK spends on their family payments every day.
Despite London typically being quoted as the costliest metropolis, folks residing within the capital at the moment are really spending much less of their month-to-month earnings on the cost of residing in comparison with these residing in Manchester.
Try MEN Premium for FREE by clicking right here for no advertisements, enjoyable puzzles and sensible new options.
According to the analysis, which concerned polling 2,000 folks and extracting data from Money Supermarket’s database, Mancunians spent £1,784.90 a month or £59.50 a day – £11 greater than the UK common.
The metropolis spends extra on power, telephone contracts, automobile insurance coverage, pet insurance coverage than anyplace else within the nation. And it ranks among the many highest for broadband payments and college prices, together with garments and childcare.
We even have the very best spend on toiletries, gymnasium membership, gaming and information subscriptions.
Despite Londoners having the very best common earnings – £30,302 – and spending a median of £55.72 on important objects per day, their greater earnings means folks within the metropolis spend among the many lowest proportion of their earnings on payments.
In distinction, Mancunians sometimes have 76 per cent of their £28,158 common earnings dedicated every month, and have the bottom disposable earnings.
Southampton is town with the largest hole between day by day cost and earnings – which means its residents have essentially the most disposable earnings, with solely 63% dedicated every month.
The report additionally reveals how family payments have modified in comparison with 30 years in the past – with invoice payers having to spend the equal of £570 extra throughout the identical payments together with electrical energy, gasoline, hire and mortgage.
It comes as hire costs within the metropolis have continued to soar since June final 12 months. The common hire in Manchester as of January this 12 months was £1,600 a month – up from £944 six months earlier than.
According to the analysis, town spends extra on the next than anyplace else:
- Energy (£161.30 v £133.30 avg)
- Phone contracts (£74.10 v £42.50 avg)
- Car insurance coverage (£49.20 v £39.10 avg)
- Pet insurance coverage (£25.20 v £14.40 avg)
- It’s among the many highest for broadband (£69.20 v £54.50 avg) and college prices (together with garments and childcare)(£86.90 v £63.70 avg)
Lis Blair, chief buyer officer at MoneySuperMarket, mentioned: “At MoneySuperMarket, we’ve spent 30 years serving to the UK to modify and save on their family payments.
“The Household Money Index brings collectively our knowledge and experience with distinctive analysis to supply a snapshot of what we spend every day, insights on how the nation manages its money, and tendencies throughout completely different age teams and cities across the UK.
“We know that saving money has by no means been extra necessary for folks, and we need to assist everybody to save lots of much more, 12 months after 12 months.”
