Disposable income gap widens between men and women

man and woman standing on money, disposable income
Image provided by Shutterstock

The gap between men and women’s disposable income has widened over the last year, new research has revealed.

The survey, conducted by YouGov for VoucherCodes.co.uk, found that on average men have around £487 a month in disposable income, compared to £369 that women have to spend.

This gap has widened considerably compared to last year’s findings. In 2015, men had around £412 of monthly disposable income, while women had £332.

Disposable income is viewed as any money left over after paying off household bills, rent and mortgages and savings.

The survey found that a woman’s wage tends to be eaten up by utility bills and childcare costs, which take over 23 per cent of their incomes compared to just 20 per cent of men’s.

The level of disposable income also varies considerable across the UK. East Anglia has the highest level of disposable income at £615, followed by the East Midlands at £510. Wales has the lowest disposable income at £243 per month.

Amongst the age groups across the UK, those aged 25 to 34 have the most disposable income of £478; while those aged 45 to 54 only have £381 per month to spend.

The survey went on to suggest that the vote to leave the EU has impacted how financially secure people feel. One in three people said they felt less financially secure than before the vote, while one in 20 said they feel more secure.

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About the author

Alison is the Digital Content Editor for WeAreTheCity. She has a BA Honours degree in Journalism and History from the University of Portsmouth. She has previously worked in the marketing sector and in a copywriting role. Alison’s other passions and hobbies include writing, blogging and travelling.
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