Abbey Credit Cards: Disposable income down by nearly 30%

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Abbey Credit Cards: Disposable income down by nearly 30%

Wed 5th Nov 2008

The average amount of disposable income has dropped by nearly 30 per cent in the last two years, according to new research by Abbey Credit Cards.

Its study found that as many as one in ten people are spending 90 per cent of their income on "essentials" such as bills and rent.

This leaves an average of £382.21 per month of disposable income, a drop of 29 per cent on two years ago when the figure was £541.44.

Mortgages or rent comprises the main cost of living for more people.

Callum Gibson, head of Abbey Credit Cards, urged people to budget and economise where possible.

In September, Abbey warned of the results of a poll it had carried out which found that a sizeable proportion of entrepreneurs were risking their health.

Some 35 per cent had missed a doctor's appointment due to work commitments, with 40 per cent of men and 26 per cent of women admitting to putting off addressing a health problem.

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