Belfast Telegraph

Nine in 10 'have disposable income'

Nearly nine in 10 people have enough money left over each month to spend on luxuries as the pressure of living costs continues to ease, research has found.

Some 87% of people surveyed for website said they have some spare cash left over each month, with the average disposable income given as £242.32.

Holidays topped the list of goals people were saving towards with their spare cash, with 45% of people surveyed saying they are looking forward to a getaway in 2015.

People in London had the most leftover cash typically, at nearly £278 a month, while those in Wales had the least, at just under £199.

Nearly half (44%) of those with some spare money said the bulk of it goes on eating out. Those living in London were found to spend the most on eating out each month, at £97 on average.

Meanwhile, people living in Newcastle use more cash to keep up with fashion trends than any other region, spending £53 a month typically on clothes, according to the research.

Meanwhile, people living in Wales were found to spend the most on beauty products and treatments each month, at an average of £43.

The findings also suggested that people living in Cambridge were the most keen on splashing out on theatre trips, those in Glasgow were the most likely to put spare money towards home improvements and people living in Manchester were the most prone to going on a spending spree after a couple of drinks.

Some 2,000 people from across the UK were surveyed in February for the research, which was released as figures from the Office for National Statistics (ONS) showed that inflation fell to zero last month.

Low inflation boosts consumers' spending power by helping their wages to go further, but inflation is expected to dip further in coming months and policy makers fear a prolonged period of negative Consumer Price Index (CPI) inflation could have damaging effects.

A report released yesterday by PwC also warned of a danger that some people could become too complacent over their ability to manage their debts amid growing consumer confidence.

The report found that the average UK household is set to owe close to £10,000 in debts such as personal loans, credit cards and overdrafts by the end of 2016.

Here are the average amounts of spare cash that people typically said they had each month regionally after spending on essentials, according to

:: East Anglia, £235.13

:: East Midlands, £238.39

:: London, £277.98

:: North East £235.93

:: North West, £250.27

:: Northern Ireland £250.27

:: Scotland, £235.47

:: South East, £236.32

:: South West, £226.38

:: Wales, £198.97

:: West Midlands, £230.06

:: Yorkshire and the Humber, £269.43


From Belfast Telegraph