Economics
Britons' Essential Spending Eats Up 80% of Incomes
- Spending on necessities up 6 percent on year, Nationwide says
- Expectations for house prices fall to the lowest in a year
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Essential spending gobbles up the lion’s share of Britons’ monthly income, leaving many with barely any money for other things.
Forty-one percent of people have less than 6.60 pounds ($8.50) to spend daily after paying their bills, according to a poll from Nationwide Building Society. Spending on things like mortgages, groceries and fuel has risen 6 percent over the past year and now consumes about 80 percent of the average U.K. salary.