The average full-time wage in the UK sits at around £30,000 according to a variety of sources – this of course varies between industries and the figure is lower for those working part-time. For some, this may seem like a lot; for the richest human on the earth, not so much – but how well does this average wage set a person up to live in the current economy? This article explores the realities of managing life while earning the average wage, including tips to consider when making the most of your income.
Following Brexit, the COVID-19 pandemic and a series of other events that caused global economic uncertainty, living on the average wage has become considerably harder to manage for those working in the UK. The journey to complete financial freedom is a broad one, with no single pathway to success. This does not, however, mean that it is unattainable.