What do we spend our money on?

I have always wondered if what people spend their monthly income on. What proportion of the nations wages go on their mortgages, rent, council tax, debt payments and so on? Are my outgoings on par with the rest of the country or am I over spending in a certain area that I shouldn’t be – probably. Thankfully, all my questions have now been answered due to a UK spending statistics survey conducted by Kublax, the popular online money management service.

It would appear that judging by the report that the vast amount of peoples income is indeed spend on their mortgages and rent. This isn’t too surprising. What did strike me as surprising is the fact that the second most significant payment out of the populations monthly budget is debt / loan payments. This statistic right here illustrates how much debt the UK is currently in. This makes me feel a lot better personally. Judging by these statistics, my debt outgoings a month are not really that significant.

Other surprising inclusions in the survery are how much people spend on holidays. Almost as much as their loan payments in some cases. I am sure there is a connection there.

This was a truly interesting and surprising survey by Kublax and I look forward to seeing more in the future. For those not in the know, Kublax offers a suit of financial money management software that can help manage your month to month finances and is great for budgeting and money management in general.

The Kublax software suite allows you to input your total monthly income as well as all your outgoings. It then performs a set of calculations to determine what you have to pay out and when leaving you with a monthly expenditure figure. This then subsequently gives you a surplus cash figure that you’re left with at the end of the month. Believe me, knowing what this figure is going to be in advance is a lot better than finding out how much you’re going to be left with just by chance when it comes to the end of the month!