personal finance

MAPPED: Best and worst UK cities for disposable income REVEALED – how does YOUR city fare?


But the same cannot be said for Brighton dwellers, who came at the bottom of the pile for the best and worst UK cities for disposable income.

Residents in the southern seaside city are left with only £751 every month to spend on non-essentials – almost half the amount of those in Derby.

According to new analysis by personal finance comparison website finder.com, the findings could be down to Derby locals earning around £200 a month above the national average, and having the second lowest cost of living in the study.

While those living in Brighton are faced with the fifth highest living costs but also the seventh lowest average earnings, according to the research.

Locals in Reading came in second in the study, with the average person enjoying £1,287 to spend after bills and essentials.

This is followed by Southampton as the third “wealthiest” city, where the figure is £1,264.

The second “poorest” city for disposable income is Norwich, where the lowest monthly salary in the study leaves locals with £872 every month.

The third worst city to live in for spare cash is Plymouth, which has an average disposable income figure of £937.

In terms of the British average, workers keep a respectable £1,083 per month after expenses and tax to spend on non-essentials.

The average monthly wage is £2,073, while the average outgoings, such as rent, travel and food, total £990.

Speaking about the findings, Jon Ostler, CEO at finder.com, said: “If you’re considering moving to a new city, it is important to have an idea of the cost of living there.

“It may seem counterintuitive, but this analysis shows that a lower wage offered in a different city doesn’t automatically mean you have less money to spend, and could actually see you keep more.

“If you want to keep a closer eye on what you’re spending, budgeting apps are useful tools to track your outgoings.

“This will ensure you don’t overreach financially but can also help you grow your savings or spot ways that you can easily save money.”

To see the full list of monthly disposable income, wages, rent and monthly outgoings for 30 UK cities, along with an interactive map, visit: https://www.finder.com/uk/disposable-income-around-the-uk

TOP FIVE CITIES FOR DISPOSABLE INCOME

1. Derby
2. Reading
3. Southampton
4. Edinburgh
5. Aberdeen

BOTTOM FIVE CITIES FOR DISPOSABLE INCOME

1. Brighton
2. Norwich
3. Plymouth
4. Manchester
5. York



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.