If you take a close look at the state of the nation’s finances, you’d be forgiven for thinking that nobody living in the UK would be lucky enough to have anything in the form of disposable income once all bills have been paid, but you’d be wrong, as according to statistics, there is a little place in the Midlands that’s not faring too poorly in this department in comparison to other areas in Britain.
If you live in Derby, you’re lucky, as it appears that this Midlands city is the place to be concerning having a decent amount of cash leftover once all expenses have gone out of the bank account.
Wages Left Over
A study conducted a few weeks ago highlighted that residents of Derby had nearly £1500 left to spend on themselves once all non-negotiables such as energy and food had been paid. This is in stark contrast to places that were found at the bottom of this survey which only had around £500 left to spend on themselves after outgoings were sorted. These figures are quite astonishing.
Derby is little known in comparison to other large cities in the UK such as London, Birmingham, Manchester etc. but it appears that this hasn’t any bearing on how well its residents are faring. So why is this city doing so well? Firstly, Derby is no shrinking violet. It is the home of Rolls Royce which employs thousands of people and is also known for its links to the transport industry – again employing thousands of residents. The latter point, in conjunction with the fact that the cost of living is lower (lower house prices compared to those in London, for instance) means that residents in the East Midlands have more in their bank accounts after bills have been paid than those in the capital.
Naturally, London comes out on top concerning wages. People living in the capital earn far more than anywhere in the UK, but because rents and mortgages are ludicrously high, people haven’t got much left over to spend on themselves.
Residents at the bottom of the pile regarding money leftover to spend on themselves are the poor people of Brighton. Many places along the south coast fare pretty well in terms of earnings, but yet again are stung by the cost of living. House prices and rents are high there because of the seaside location with many people clambering for sea views and a little place by the sea.
These statistics go to show that wages are not the be all and end all. People could be earning a small fortune every month, but if the area that they are residing in is an expensive and popular one, they will be no better off than a person who earns an average wage but lives in a more financially manageable district.
As always it comes down to being sensible and smart with money. Being property savvy always helps too, and the combination of both quite clearly pays dividends.