{"id":677,"date":"2022-06-02T08:34:22","date_gmt":"2022-06-02T08:34:22","guid":{"rendered":"https:\/\/www.drafty.co.uk\/blog\/?p=677"},"modified":"2022-12-08T12:03:31","modified_gmt":"2022-12-08T12:03:31","slug":"average-salary-vs-cost-of-living-uk","status":"publish","type":"post","link":"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/","title":{"rendered":"Average Salary Vs Cost of Living in the UK [2022 Guide]"},"content":{"rendered":"\n<p>As the cost of living in the UK continues to rise, many people are wondering how they will be able to afford to live in the UK in 2022. <strong>The average salary increased by around 5.4%, but this still may not be enough to cover the increasing costs of housing, food, and other essentials.<\/strong><\/p>\n\n\n\n<p>In this article, we will take a closer look at the average salary vs cost of living in the UK and explore some possible solutions for those who are struggling to make ends meet.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#the_cost_of_living_in_uk_is_on_the_rise\" >The Cost of Living in UK is on the&nbsp;Rise<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#the_average_salary_has_increased_but_may_not_be_enough_to_cover_rising_costs\" >The Average Salary Has Increased, But May Not Be Enough to Cover Rising&nbsp;Costs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#possible_solutions_for_those_who_are_struggling_to_make_ends_meet\" >Possible Solutions for Those Who Are Struggling To Make Ends&nbsp;Meet<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#1_look_for_ways_to_earn_extra_income\" >1. Look for Ways to Earn Extra&nbsp;Income:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#2_look_for_cheaper_accommodation\" >2. Look for Cheaper Accommodation:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#3_cut_back_on_non-essential_expenses\" >3. Cut Back on Non-Essential Expenses:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#4_go_for_loans_or_credit_line\" >4. Go for Loans or Credit&nbsp;Line:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#5_consider_government_assistance\" >5. Consider Government Assistance:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#6_ask_for_help\" >6. Ask for&nbsp;Help:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#7_look_for_ways_to_cancel_council_tax\" >7. Look for Ways to Cancel Council&nbsp;Tax:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#how_to_budget_your_monthly_salary_vs_cost_of_living\" >How to Budget Your Monthly Salary vs Cost of&nbsp;Living?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.drafty.co.uk\/blog\/average-salary-vs-cost-of-living-uk\/#final_words\" >Final Words<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"the_cost_of_living_in_uk_is_on_the_rise\"><\/span><strong>The Cost of Living in UK is on the&nbsp;Rise<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <strong>cost of living in the United Kingdom<\/strong> has been on the rise in 2022. The inflation rate, which measures the change in prices for goods and services over time, hit 9% in May 2022, highest in past 30 years. The average prices of living essentials like food and housing and other living expenses have also been rising, as demand outstrips supply. This has led to concerns that the UK\u2019s poorest families are being squeezed by rising living costs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"the_average_salary_has_increased_but_may_not_be_enough_to_cover_rising_costs\"><\/span><strong>The Average Salary Has Increased, But May Not Be Enough to Cover Rising&nbsp;Costs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The average salaries in the UK have increased by around 5.4% in 2022, but this may not be enough to cover even the average house price increase in the UK. A recent survey found that one in four workers are now struggling to make ends meet even with a wage growth, as compared to one in five in last year.<\/p>\n\n\n\n<p>This is a worrying trend, as it suggests that more and more people are struggling to keep up with the cost of living in the UK when compared with their average wages.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"possible_solutions_for_those_who_are_struggling_to_make_ends_meet\"><\/span><strong>Possible Solutions for Those Who Are Struggling To Make Ends&nbsp;Meet<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you are struggling to meet even your general living expenses, then here are a few possible solutions that you can consider:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_look_for_ways_to_earn_extra_income\"><\/span><strong>1. Look for Ways to Earn Extra&nbsp;Income:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This could include taking on a part-time job or <strong><a href=\"https:\/\/www.drafty.co.uk\/blog\/how-to-make-money-from-a-side-hustle\/\" target=\"_blank\" rel=\"noreferrer noopener\">starting a side hustle<\/a><\/strong> to boost your income on top of your average wage and help you make ends meet.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_look_for_cheaper_accommodation\"><\/span><strong>2. Look for Cheaper Accommodation:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If you live in an expensive area, such as London, you may want to consider moving to a less expensive location. But before moving do check that what is the average house price, and other basic costs across different cities in England, Wales, Scotland and Northern Ireland.<\/p>\n\n\n\n<p>This could help you save money on your accommodation costs and free up more of your disposable income to <strong><a href=\"https:\/\/www.drafty.co.uk\/blog\/how-much-money-do-you-need-to-live-comfortably-uk\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.drafty.co.uk\/blog\/how-much-money-do-you-need-to-live-comfortably-uk\/\" rel=\"noreferrer noopener\">live a comfortable life<\/a><\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_cut_back_on_non-essential_expenses\"><\/span><strong>3. Cut Back on Non-Essential Expenses:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If you are living on minimum wage and not being able to meet even the increasing food prices by living in the cheapest region of UK, it may be necessary to cut back on some of your non-essential expenses, such as eating out or the way you buy groceries.<\/p>\n\n\n\n<p>Take a closer look at your budget and see where you can cut back on your spending. This could include buying groceries from affordable places, reducing your food shopping bill or cutting out unnecessary expenses.<\/p>\n\n\n\n<p>This can help you free up more of your income to cover essential costs like taxes, rent and food.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_go_for_loans_or_credit_line\"><\/span><strong>4. Go for Loans or Credit&nbsp;Line:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If you are struggling to make ends meet even as a single person living in north east and that too on rent then you may want to consider taking out a <strong><a href=\"https:\/\/www.drafty.co.uk\/loans\/\" target=\"_blank\" rel=\"noreferrer noopener\">loan<\/a><\/strong> or a <a href=\"https:\/\/www.drafty.co.uk\/credit-line\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>credit line<\/strong><\/a>. If you are considering going for a credit line then <strong><a href=\"https:\/\/www.drafty.co.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">Drafty<\/a><\/strong> can help you. This can help you cover your costs in the short-term, but it is important to be aware of the potential risks involved with taking on debt.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_consider_government_assistance\"><\/span><strong>5. Consider Government Assistance:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This could include benefits such as housing benefit or jobseeker\u2019s allowance. You can check to see if you are eligible for any benefits by visiting the <a href=\"http:\/\/gov.uk\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>gov.uk<\/strong><\/a> website.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_ask_for_help\"><\/span><strong>6. Ask for&nbsp;Help:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If you\u2019re low on your disposable cash, don\u2019t be afraid to ask for help from family, friends, or charitable organizations. Ask them for a amount which you think you can save every month from your salary (excluding rent amount) and can repay them after a few months.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_look_for_ways_to_cancel_council_tax\"><\/span><strong>7. Look for Ways to Cancel Council&nbsp;Tax:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If you are on a low income, you may be eligible for Council Tax Reduction. This can help to reduce the amount of Council Tax you have to pay. You can check if you are eligible for Council Tax Reduction by visiting the <a href=\"http:\/\/gov.uk\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>gov.uk<\/strong><\/a> website.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how_to_budget_your_monthly_salary_vs_cost_of_living\"><\/span><strong>How to Budget Your Monthly Salary vs Cost of&nbsp;Living?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you want to make sure that your monthly salary covers your cost of living, then you need to create a budget. A budget can help you track your income and expenses and ensure that you are not spending more money than you can afford.<\/p>\n\n\n\n<p>There are a few different ways that you can create a budget, but one of the simplest is to use the 50\/30\/20 rule. Under this rule, you would allocate 50% of your income to essential costs, such as rent and food, 30% to non-essential costs, such as entertainment and travel, and 20% to savings or debt repayment.<\/p>\n\n\n\n<p>This is just one example of how you can budget your monthly salary vs cost of living. There is no right or wrong way to do it, but it is important to find a system that works for you and stick to it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"final_words\"><\/span><strong>Final Words<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The rising cost of living is a worry for many people in the UK. If you are struggling to make ends meet with your monthly salary vs the rising cost of living, then consider using some of the tips and solutions outlined above. Creating a budget can also help you ensure that your monthly salary covers your cost of living. With a little bit of planning and effort, you can make sure that you are not struggling to make ends meet each month.<\/p>\n\n\n\n<p>What other tips do you have for those whose average salary is not enough against the rising cost of living? Let us know in the comments below! And be sure to check out our other blog post on ways to save money on your groceries!<\/p>\n\n\n\n<p>Thanks for reading!<\/p>\n\n\n\n<p><strong>Disclaimer:<\/strong> We are not providing financial advice, these are just tips for informational purposes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the cost of living in the UK continues to rise, many people are wondering how they will be able to afford to live in the UK in 2022. The average salary increased by around 5.4%, but this still may not be enough to cover the increasing costs of housing, food, and other essentials. In [&hellip;]<\/p>\n","protected":false},"author":47,"featured_media":758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-677","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-research"},"_links":{"self":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=677"}],"version-history":[{"count":5,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/677\/revisions"}],"predecessor-version":[{"id":791,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/posts\/677\/revisions\/791"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/media\/758"}],"wp:attachment":[{"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.drafty.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}