UK wages not enough

UK Wages

According to recent reports UK citizens in general do not earn enough money to live the same kind of lifestyle as their parents, in fact it is suggested that they need twice as much as they do now.

Low wages and continually rising living costs are believed to be the source of the problem. The average wage of someone in their mid-twenties is currently at around £21,000, however it is estimated that they would need to earn around £40,000 to lead a comfortable life.

It is only with that kind of money that people would be able to purchase a home, purchase a vehicle and start a family.

Money problems at home and in the city are causing these problems, with the Government deficit leading to austerity measures which means the money people make goes less farther than ever before.

The report was commissioned by First Direct bank, an excerpt from the report read: “Three in ten of their parents were married and on the property ladder by the age of 25,' it said. 'But money worries mean the average young Briton today does not expect to pass these milestones until their mid-30s.”

For the report First Direct quizzed 3,000 United Kingdom citizens.