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Personal Finance News
01/11/12
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Money advice in increasing demand, says study
31/10/12
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Payment barriers exist for disabled and older people, says study
31/10/12
-
Gender differences apparent when financial planning
31/10/12
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Half of Brits shop with a basic credit card, says study
30/10/12
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Number of Brits sitting on forgotten direct debits - 2.68 million
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This Week's Personal Finance News Update
01/11/12
-
Money advice in increasing demand, says study
31/10/12
-
Payment barriers exist for disabled and older people, says study
31/10/12
-
Gender differences apparent when financial planning
31/10/12
-
Half of Brits shop with a basic credit card, says study
30/10/12
-
Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12
-
More than half of parents are unaware of Junior ISAs
30/10/12
-
Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12
-
Brits left with £1.4bn repair bill during 'mischief week'
29/10/12
-
East of England landlords at apex of yield chart
29/10/12
-
Buyers more optimistic about Scottish property market
News
10/07/2012 17:22:47
£36,728 needed to fund family of four
A new study has revealed that a family of four requires an annual income of £36,728 before tax in order to attain a minimum acceptable standard of living.
The Joseph Rowntree Foundation's annual report shows that a couple with two children needs to earn an extra £5,000 to achieve this level of comfort than in 2008, with the cost of running a car a major factor in this increase alongside cuts in tax credits.
For a lone parent with one child, the salary requirements are even higher, with an income of £23,861 needed, while a single person could survive on £16,383. This lone parent wage equates to £12.20 per hour. The current minimum wage for over-21s is £6.08.
"This study shows that the minimum needed by families for an acceptable living standard remains similar in harsh economic times as it did previously, but that it is getting harder to earn enough to meet this standard," the report said.
