As Christmas is fast-approaching, it isn’t surprising that budgeting is in everyone’s mind right about now. We all know the clichés; Christmas is about spending time with loved ones, about making memories; about appreciating what you have. It’s not about the number of presents you give/receive (it’s the thought that counts, after all!), or expensive food, or nights out.
Except it is a little bit. Maybe not the receiving of gifts part, but everyone likes to be able to give nice presents to the people they care about, pig out on gorgeous food (pigs in blankets, chocolate money and cheddar cheese with apple are my tri of guilty pleasures!) and be able to go out with friends and celebrate the holiday season.
But budgeting isn’t just a part of Christmas; it’s something we do all year round. We have our essentials – bills, food, car expenses, etcetera – and then we have our disposable income – the fun bit of our wages we can blow on anything we like!
However, this month a report has been released by Scottish Friendly suggesting, after bills and the essentials, on average, the unemployed have more disposable income left than part-time workers or those in zero-hours jobs. Admittedly, the report shows there isn’t a huge difference, but it is a significant finding.
Scottish Friendly’s ‘Disposable Income Index’ shows that the unemployed, on average, have 9.3% of their monthly income as disposable, while a part time worker’s disposable income is 7.9% of their income, and a zero-hours worker has a disposable income of 7.8% of their monthly wage.
These findings certainly do spark some questions! For starters, it seems, if these findings are indeed correct, there’s less of an incentive to take on part-time or hourly work…
But Perhaps it Does Pay to Work?
It is important to look at all the facts and stats Scottish Friendly have released before we go jumping to the belief we’d be financially better off jacking in our jobs before the Christmas hols. Scottish Friendly’s report the unemployed have an average disposable income of £174, whereas part-time workers have an average of £192. The difference isn’t massive, but the findings do suggest you have more money at the end of each month through working – as you would expect!
Wait – there’s some Good News!
Apparently, the average levels of disposable income across the UK are on the rise! Woo hoo! The report suggests levels of disposable income have risen by an average of 2.3% in the last 3 months. Might be enough for a new pair of shoes…Read More