Why £50,000 p.a. is no longer enough to live on

The average UK salary is £26,500 and yet research carried out by the Daily Mail found that families with incomes of £50,000+ are struggling to get by. If those considered to be living a ‘nice middle class’ existence aren’t coping, what hope is there for someone on a much smaller income? The Daily Mail spoke to four families – all bringing in a joint income of more then £50,000 per year – who said they were struggling to get by. Some had to borrow from friends and family to meet end of the month bills while others hadn’t had a holiday abroad since 2012. You might assume that these families must be splashing the cash on new clothes, Christmas presents and pets but the spending actually showed rather a lack of extravagance. So where does the money actually go and how could these families find savings? Childcare £400 £1,200 per month The cost of childcare was one of the biggest expenses for the households with children. In fact, three households spent more on childcare ea


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