16th December 2019
Disposable income is defined as the money that is left over in your salary once you’ve paid your taxes and essential expenditure items such as mortgage or rent payments, groceries and utility bills etc. Disposable income change can be brought about following an increase to your wages or by a decrease in your expenditures.
The question is, though, if you were to find yourself in the enviable position of seeing a rise in your disposable income, what exactly would you spend that extra money on?
This formed the basis of our website poll in November.
54% of those who took part said that they would save up for a family holiday.
24% of participants agreed that they would put the money towards purchasing a house, while a further 17% decided that they would spend it on a new car.
The remaining 5% said they would use an increase in their disposable income as an opportunity to start saving towards their retirement.
|What would you save for if you had an increase in your disposable income?||Results|
|A family holiday||54%|
|A new car||17%|