On average it doesn’t add up

MOST people are happy to survive on their income without accumulating debt, never mind being able to build a nest egg.

As one pal used to say on pay day: “My money’s got its hat and coat on.”

A survey by Salary Finance found average monthly income is £1,867 in Yorkshire.

After paying rent, mortgage, utility bills and living expenses, folk are left with an average of £320 of disposable income.

Except I never trust averages when it comes to pay and the working man or woman. If one person has £2,000 spare each month, two have £600 and seven have nothing, that produces an average of £320.

Except Joe or Jane Average are still skint.

So it’s no surprise that 49% said that some months they had no spare cash at all after paying their bills.

A third said they just about make ends meet, 25% go over budget each month by £133, and some rely on the spiral of worry created by borrowing. Average loan or credit card payment a month is £84.

Asesh Sarkar, CEO and co-founder at Salary Finance, said: “While we want to be able to pay the bills, it would be nice to have... a little bit left over to spend on some of the lighter things in life.”

Unfortunately, it seems for many, there is just not enough money to go around and they are left with very little spare after paying out for the essentials.

We seem to have been in recession for the last decade with wages pegged and zero-hour jobs, while Brexit doubts have caused industry to stall and some companies to relocate to mainland Europe. This despite us being a so-called wealthy country. It just appears that most of the wealth remains in that top percentage of the population while most struggle Usually, Joe and Jane Average.