Tags: Income

Personal wellbeing is improved by the more we spend

New analysis from ONS shows that both household income and spending matter to personal well-being, but spending has a greater effect on how we feel about our lives. The analysis looked at how household income and spending affect personal well-being, after taking many other possible influences on well-being into account. How much does household income…

Lack of social mobility in UK holding millions of people back, says TUC

The UK’s poor track record of social mobility means that people’s life chances are too dependent on their parents’ income, rather than their own education and ability, says the TUC as it publishes a new report on social mobility. The TUC report warns that the UK has the joint highest level of earnings persistence –…

More and more ‘9 to 5’ Brits moonlighting to earn extra income

The number of Brits ‘moonlighting’ in a bid to supplement their incomes, has more than doubled in just twelve months according to online freelance marketplace PeoplePerHour. Those registering on the site to earn extra cash alongside a full or part time job has risen by 110% to just over 190,000. A recent poll of moonlighters revealed…

UK families owe nearly six months’ income in unsecured debt

Family borrowing rises 7% in a year while typical incomes falter Number of borrowers falls – but the amount they owe increases Having children prompts parents to get their finances in order Soaring debt and stalling incomes over the last year means UK families now owe the equivalent of more than five times their monthly…

Research shows mothers spend a third of income on childcare

Mothers with full-time jobs need to work for up to four months a year just to pay for childcare costs, new research has revealed. A study from the Family Investments Organisation, suggests that on average a mother in Britain spends £7,127 per year on childcare, with costs in London rising to £9,283. The research also…

Last year Aviva income protection payouts hit £29.5m

Aviva’s income protection cover provided payments totalling more than £29.5m in 2011. Aviva’s claims data shows the range of conditions that prevented or restricted customers from working last year, and the length of time some Aviva customers have to wait for their claim to be processed. Psychiatric conditions were the most common reason for claim…

Aviva customers received over £29.5M in income protection last year

  The average length of time that customers claim for is 9 years Psychiatric conditions are the most common reason for claims (28%) The average age for starting a claim through disability is 44 years The longest time in claim is (currently) 36 years   Aviva’s income protection cover provided payments totalling more than £29.5m…

Top tips to maximise workplace benefits in 2012

Making the most of every penny is going to be vital for people to make ends meet in 2012. Employers spend considerable sums on workplace benefits, which form an important but often overlooked part of people’s total remuneration. The Alexander Forbes Group has revealed five top tips to enable people to make the most of…

Career path stability heads in one direction: down the drain

According to the latest survey results from global workforce solutions leader, Kelly Services® the career life is fast vanishing, with over half of UK respondents saying they expect to change their career in the next five years. The main cause, cited by 27 per cent, is changing personal interests, followed by the need for higher…