Money has dominated the headlines and communication on social media recently, so OnePoll surveyed 1000 UK Brits about their personal finances and issues.
58% of working 25-34 year olds say they are earning more than they were 5 years ago but only 31% of employed over 55s say the same.
62% of savers manage to put away £104 on average at least once a month.
29% of 18-24s save £21-£50 per month with 27% of 35-44s saving over £200 per month.
OnePoll stats also show how recent tax changes have affected UK Brits.
60% of working 18-24 year olds say the new income tax threshold has helped them out financially but 46% of over 55s say it hasn’t helped them out at all.
Research also gave insight into Brits’ personal financial matters.
Londoners have the most disposable income with an average of £220 per month and south westerners have the least with an average of £138 per month.
Across the UK, the biggest expense besides rent/mortgage is energy bills followed closely by amount spent on food per month.
If they could afford it, 56% of renters and 53% of those still living at home wish to buy their own home.
18% of 25-34s want to start their own business.
According to the research, 20% of Brits have to use their overdraft every month.
40% of those have to use it just one week after ‘pay day’ and 47% believe they will not be out of it permanently within the next 6 months.
In an attempt to save money, 35% of Brits pay for things on card so they can keep on top of their finances (38%) and take advantage of bank rewards (37%).
23% opt to pay by cash so they can see exactly where their money is going (51%).
Things UK Brits wish they could afford more of
Day trips (43%)
Socializing with friends (35%)
Entertainment (Books, DVDs, games) (27%)
Luxury food items (26%)