Recent research from Provident has tackled household expenditures in the UK and has looked at the different cuts your salary takes, such as bills, mortgage, food shopping, etc. then looking at the amount of money people actually have to spend and enjoy for themselves.
Provident challenged the UK to input their data on their ‘Real Wage’ tool to work out exactly where our wages are spent.
The East Midlands are found to spend the highest percentage of their wages on accommodation, with residents revealing that over a third of their income is instantly spent putting a roof over their heads.
Welsh residents don’t get an easy ride either, with a shocking 13% of the average wage going straight out of their account to cover loans and childcare.
East Midlands spend the most of their wages on accommodation
|Region||Yearly salary (in £)||% of wage taken up by Rent/Bills|
|Yorkshire and The Humber||23,918.40||33.8%|
Childcare capital of the UK revealed as East Midlands
|Region||Yearly salary (in £)||% of wage taken up by Loans/
|Yorkshire and The Humber||23,918.40||11.8%|
Before any additional financial turmoil takes place, find out how much of your salary is really yours to keep with the tool created by Provident here.