The UK city where more than half of people run out of money before payday
Cost of living costs are biting in the UK, and in one major city well over half of working residents say they often run out of money before payday arrives.
This is according to research from credit card provider Zable, which ranked the 10 UK cities where people are most likely to run out of money before payday.
The company surveyed 2,000 people in Britain about their payday spending habits earlier this year, looking at how household finances are being squeezed across the country and where this pressure is most acute.
Unlike rental costs and property prices, which tend to be higher in the South of England and especially London, the difficulty of meeting payday with many to spare seems to be an issue across the country.
According to the data, the city with the most residents who run out of money before payday is Norwich, in Norfolk.
The city, which boasts some of the most complete medieval architecture in the country and a bustling tourism industry, ranks significantly worse than others in terms of how many residents have money left over at payday.
58% of respondents surveyed in Norwich said they often run out of money before payday.
10 cities where people run short of cash before payday
Below are the 10 UK cities where people are most likely to run out of money before payday, according to research by Zable.
| Rank | City | Residents who run out of money before payday |
|---|---|---|
| 1 | Norwich | 58% |
| 2 | Southampton | 48% |
| 3 | Glasgow | 47% |
| 4 | Bristol | 46% |
| 5 | Edinburgh | 45% |
| 6 | Nottingham | 44% |
| 7 | Brighton | 43% |
| 8 | Plymouth | 43% |
| 9 | Cardiff | 41% |
| 10 | London | 38% |
Nationally, an average of 38% of Brits say they often run short of money before payday. Younger people are more likely to run short of cash than older Brits, with 46% of Millennials saying they often come up with nothing left before payday.
Two in five who were surveyed by Zable said they feel financially stressed in the final week before payday, and the most cited barrier which prevents people of setting up a payday routine was the rising cost of living in the UK.
“Payday can feel like a reset button, giving people a sense of control over their finances and the opportunity to review their priorities,” said Zable Product Manager James Goforth.
“Our research shows that while Brits understand the importance of managing their money well, the challenge is turning good intentions into consistent habits that last beyond payday.”
