The independent London newspaper

Saving money in the capital: What you need to know

09 January, 2019

London is one of the best cities in the world, with its iconic landmarks and its thriving social scene, it’s no wonder it’s one of the most sought after places to live in the UK.

Like every other city however, living in the capital can sometimes give people issues in terms of cash flow. The price of living in London has gotten substantially more expensive over the last decade, and whilst some of this has been subsidised thanks to the increase in the average salary offered in the city, many people still struggle to make ends meet by the end of the month.

Being savvy with your money is essential and a new infographic by Sunny has revealed that when it comes to savings, Londoners are able to put more money away than any other region in the UK.

Average savings per month (per person)

1. London – £228
2. South East – £201
3. Northern Ireland – £178
4. East of England – £171
5. East Midlands – £151
6. Yorkshire and the Humber – £146
7. South West £139
8. Scotland – £136
9. Wales – £130
9. North East – £130
11. North West – £115
12. West Midlands – £112

Despite being the best savers, the infographic also reveals that 29% of the city has less than £1000 in savings, which leaves them susceptible should they receive an unexpected bill.

You can take a look at the entire infographic below…

Are you a savvy saver
Provided by Sunny Loans

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