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Households have £780 a year less to spend
12/12/2011
It has been recently published by ASDA Income Tracker that households are on average £15 a week worse off than they were this time last year. This equates to an annual drop of £780.
The average weekly family income after tax is £597. After bills, only £163 a week is left to meet all other needs. This has dropped by 8.3% compared to similar statistics that were released one year ago.
It has also been identified by Andy Clarke, ASDA chief executive that there is a growing divide between the North and South of England in terms of disposable income.
The drop in spending power has been attributed to increased energy bills, food bills and the cost of insurance.
Homeowners aged over 55 years who are worried about the fall in their spending power and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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