Different women, different habits 👛 👀
If you’re anything like us (as in, a little bit nosy) - you’ve probably wondered how like-minded women earning different incomes are spending and saving their money.
But first, a little bit of context. We’re living in notoriously uneasy times; income inequality is continuing to rise in the UK at an even higher pace than most other developed countries. As a result, economic discontent is rife - the FT reported on how this economic disparity served as a big contributing factor to Brexit. The statistics on income inequality speak for themselves: according to official ONS reports, the top 10% of the population have net incomes nine times (£83,897) higher than the households in the bottom 10% (£9,277). In 2012 - the most recently surveyed year - the top 1% had an average income of £253,927, which is 12.7% of all income compared to the 9.8% in 1970.
So, the reality is that we all fall into widely different income brackets, which is why we found this article by ELLE magazine so insightful; it looks at six 30-year-old-women with very different incomes and finds out how they spend and save. You can also take a look at a similar article by Esquire, interviewing four women with four very different incomes about the lives they can afford - from a single mother living just above poverty line to a real-estate millionaire.