New data has revealed the UK Cities which have the most – and least – disposable income.
It’s good news for those who live in Brighton. The coastal city has the highest amount of disposable income, with the average household spending just 45% of their paycheck on bills and necessities.
The city with the lowest is Bristol, where 75% of monthly income is spent on necessities, leaving just a measly 15% to use as they please.
The data from This is Money shows that those in London have roughly £1,000 of disposable income each month.
Other cities ranking high on the list include Nottingham, Belfast, Glasgow and Southampton.
Cities further up north didn’t fare as well with their disposable income. Newcastle, Manchester, Leeds, Liverpool, Sheffield and Edinburgh all ranked rather low.
In Cardiff, residents have £893 to spend as they please each month. In Leeds, that number drops to £543.
Folks in Manchester have a bit more to spend each month, with £869 on average.
Nationwide, British people have on average £836 each month in disposable income – an increase of £195 year on year.
But increasing rent prices across the UK means most of people’s’ income is spent on keeping roofs over their heads.
MoneySuperMarket found on average, 70% of monthly income is spent on bills and other necessities.
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People are generally earning more and spending less on bills than they were last year, according to 10,000 people surveyed by MoneySuperMarket’s Household Money Index.
But the improvement in how much spare cash people have is not being felt equally around the country.
The research calculated the ratio of income to spending on things like bills, tax and rent or mortgage payments in 17 different cities.
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