If I am reading this right, about 43% of families had either no money or less than £100 spare cash at the end of each month

[cakeorwine]

Nationwide Reaffirms Cost-Of-Living Support As Poll Shows Cumulative Impact Of Rising Bills On Typical British Family (nationwidemediacentre.co.uk)

I can't find the data tables to get the definitions - but families with children living at home were questioned.

The research found that more than one in five (22%) families had no more than £100 spare a month by the end of last year – almost double the percentage in 2021 (13%).

The percentage of families with no money left at all by the end of each month also increased nearly twofold, from 11 per cent in 2022 to 21 per cent in 2023.

Continued high costs have led to more than two thirds (69%) of family households feeling more worried about their finances in 2024 compared to a year ago, the poll shows. The average amount of discretionary money available to families each month has dropped from £328 in 2021 to £295 in 2022 and £237 at the end of 2023.

Almost 16 per cent say they will have to work more hours to earn more money, 16 per cent say they will need to use their credit card and 15 per cent will need to borrow money from family and friends to cover their bills. Almost half (46%) are reducing other outgoings to help cover energy bills this winter.

It would be better with the data tables and definitions - but 43% of families with £100 or less, of which many have £0 is not a good picture. It also ties in with other measures from Asda and their disposable income tracker.

We have a low income and it is a struggle to make it to next pay day, sometimes I am slightly in the negative by end of month but usually just about manage. We are lucky now though to have received some inheritance(not a huge mount). We have too little an income/too old for a long mortgage, so cant use it to get our own house but it's a god send in times like this either everything going up in price..So we are very lucky to now be able to relax a bit for a while. I can see first-hand though how hard it is for people though, things just can't go on this.

@CissieNotAda I do. It's either on credit or I buy currency bit by bit each month. People would say its financially irresponsible but knowing I have a week away, even camping, is enough to get me through the drudgery of full time work, no money, two kids and being the only adult in the house.

Wages have not kept up with inflation and what is now necessary to live, it's that simple.

A few examples:

• Many years ago it was normal to live reasonably close to your place of work. You could walk or cycle. Now time poverty, increasing property prices in cities and general lack of job availability mean that many people have to commute to work by car (that means paying out for the car, insurance, tax and maintenance) or public transport (trains are prohibitively expensive, and buses and trams increasingly so while being hugely unreliable). I tried cycling to work and the state of the roads meant my tyre burst on my thrid day of commuting and I have yet to find the time and money to get that fixed.

• People are now required to have a smart phone for so many things - almost everything that can generate a bill relies on apps, so does banking and a lot of shopping. That's a huge expense, even if, like me, you only use a smart phone for basics and therefore buy a "cheap" one at just over £100, which then needs to be replaced after 4 years because it suddenly cannot update apps or storage is suddenly full.

• Likewise, internet access is a must, from homework for the kids to booking many appointments to communication (how many of us work hours outside of our normal working time, too?) That means computer access (from a cheap, basic laptop, which will still set you back £300 and will break after 2 years to a more reliable model at £600+) and internet access (which can easily be another £50pcm) are a must. I cannot even book a sodding parents' evening appointment without internet access and am not allowed to use work equipment for personal stuff, so have to have this at home.

• Clothing. I am putting that in here. I'd love to buy more expensive and less regularly, but the quality, even in so-called reputable shops, is shocking. I am finding that I am mending (and often replacing) clothes soon after they have been bought. Jumpers and shirts develop holes, seams split easily, shoes fall apart. I am good at sewing and mending, but there is only so much I can do looks at pile to be mended next to me before I have to buy new. I have clothes from 20 years ago that still hold strong, but anything new doesn't seem to last more than a few months.

It all soon adds up, and none of the above are particular luxuries.

@Haruka definitely. Also if you have school age kids, the school always want money for something. It all adds up, all these extras.

You could earn loads of money and have nothing left at the end of the month because you've spent it all on clothes, going out, a holiday for example.
Or have no money at the end of the month and have literally only spent money on the bare essentials.
We usually have a bit extra money left over each month to spend after payday but there's always something that needs doing in the house so usually end up with nothing at the end.

Yes, absolutely and I will think to myself I don't know where my money has gone as I haven't spent a lot but a coffee here and there or a ready made sandwich because I've been disorganised in the morning really adds up.
This month, we are making a conscious effort to really think about what we spend.

This might be true for a small proportion of families but I suspect that many more are cleared out every month just by normal living costs. Most people will arrange their direct debits to come out very soon after pay day. I know plenty who are skint within days of being paid, once their bills have been paid.

Many people would have no money left at the end of the month because they are very low earners and just about staying above water; others could be earning a bit more but have just enough to pay for an unexpected dental bill or similar.

We have a lot of equity in our house but day to day we are struggling with the cost of living rises. Our bank account is running on fumes by the end of the month. This month I had to use £100 from my credit card to get us through to today (payday). Just paid it back but our wages feel like are worth far less than they were even a year ago.

I discussed recently with my DM how many more bills we have than my DPs. They had mortgage, gas, electric, rates and later on phone then food and petrol but that was pretty much it. We have a list as long as your arm of direct debits - mobile phones for us and DCs all on SIM only, insurances for all sorts home, cars, life insurance, Netflix, Amazon, council tax is bloody ridiculous, water, internet etc it all adds up.

Holidays? No holiday from low income thank you. Such an unimaginable reach it makes you laugh.

I know an awful lot of people who are in this situation but also people who just cannot pare anything else down.
Cheap credit and lower prices meant they set up a certain lifestyle and don't want to lose it .
My work colleague
Botox, facials, weekends away with the girls, holidays etc
She had 45K on credit cards and pinched my teabags at work!
We earn the same.
I do appreciate there are people who literally do not earn enough to cover their bills though.

I think the article defines what is 'spare' as what is left after mortgage/rent, food, fuel, energy.

So not including putting to savings, holidays etc.

But people spend up to their incomes whatever they earn. You only have to see the queues outside macdonald's drive through, when making a burger at home would be quicker, cheaper and healthier, to know that people make poor decisions all the time.
Right through to footballers or tennis players on millions going bankrupt. They decide a certain standard of living is justified and don't budget.
I have a friend who is 'struggling' but that family had two weeks at an all-inclusive last year.
For many, it's difficult, but for many others it's a badly thought decision.

I'd love a holiday. Haven't had one for years. But I, like many, simply don't have any spare money.
My luxury is a quite cup of tea on the sofa when no one else is in the house!

£100 leftover is not wealthy
We need to be careful we don't normalise poverty and normalise a race to the bottom.

It's a dreadful situation to be in and yes I know many people having nothing or minus figures left.

I never have anything left at the end of the month. Income is high, essential outgoings are just as high.

Same

@SilverGlitterBaubles But you don't need Netflix or Amazon or two cars. That's your choice of lifestyle. Your decision.

The mentality is that your wealth is what you have available to spend.
Cheap credit aka debt!

I've got £8 in change in my purse until Friday. That's it. There's £190 in savings but that never gets touched because it's for emergencies.
No holidays, no weekends away! Every Christmas we go to my mother's for two weeks and that's our holiday.
And I live within my means. I don't have any debt or credit cards or overdraft. Wetherspoons once a fortnight for lunch is our treat.
I have a 5 year old, no maintenance money, never have had anything from her father.
I work but can only do part time because I don't have any childcare other than school. No family here.

Many people don’t have enough money left at the end of the month because of what they’re spending though.

A takeaway for a family of 4 now is easily 30/£40. Then they have amazon prime, and netflix, and Disney plus, and sky and whatever subscriptions people are paying for. There’s nothing wrong with those but they’re not necessities, and as much as bills have gone up, so the leisure industry has led people into thinking they need and will benefit from all these things and so the costs mount.

Minor silver lining: no council tax payments for Feb and March, so capitalise on that.

For those spending down to 0 don’t spend it because it’s there, put it away for when it’s really needed.

For those going into overdraft every month, use it to clear some of that.
Edited to say that I put all my. Salary into my savings account, and into my Nationwide flex direct account which pays 5% interest for the first year based on a credit of £1000.

And then I transfer out the money as the bills are due. My current account has the bear minimum in it, and I pay the groceries out of my Nationwide current account.

So all the money I have is constantly earning interest. No not much I grant you, but money I wouldn’t have had.

And I make use of the spare change option on my bank accounts to transfer the roundup figures to my savings.

That way I am aware of every penny I’m taking out to spend on bills/groceries, and there’s less chance for frivolous spending becaus I have to make the effort to transfer that money.

You’d be amazed how much you can end up not spending that way.

Netflix only costs £7.99 or even £4.99 for the most basic package. Life is already a bit grim so why not? Netflix isn't the reason people are struggling. The main reason will be rising rents and mortgages.

Depends what's meant by £0 left. I don't have any spare money just sitting there at the end of the month but I save £100/week and clear all bills, put money in a holiday fund etc so I have money left out of day to day expenses/household bills etc but don't have any money I'm wondering what I could do with

The app HyperJar has made us sooo much better with money. You can share your money out into different pots. It's really helpful for expenses like the summer holidays and Christmas. After Christmas I start putting £30 per month in to the summer holiday pot, £20 into the car pot, £20 into the birthdays pot etc. this means that we might have less left over at the end of each month but when the irregular costs come up we're better prepared.