Britons paying £67bn to work. How much does your job cost you?

27th September 2013

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British workers spend a combined £67bn a year on costs they incur specifically as a result of their job and the price-tag for earning a living is on the way up writes Philip Scott.

According to research from Santander, work-related expenses especially childcare and commuting costs, are leaving workers seriously out-of-pocket.

In addition, work clothes and computer equipment costs boost the overall bill and all-in, the average full-time employee spends more than £2,680 a year, around 12% of their disposable income.

But while the average salary has increased by around 1.4 per cent, the typical cost of working has soared by 10 per cent over the past year.

Commuting is the greatest cost to workers, with the average annual outlay now at £785 per year, up from £766 a year ago. Those who drive to work spend £955 a year on travel, with £835 spent on fuel, £82 on parking charges and £38 on tolls/congestion 2,780 miles per year.

Those who use public transport to get to work spend slightly less money at an average of £927 per year.

Childcare is also a substantial cost burden for every one in five, where 19% of workers, spend an average of £3,656 per year on it, up from £3,632 last year.

Alan Mathewson, CEO Santander Cards, says: “Earning a living can be an expensive task, particularly against a backdrop of rising living costs. The price of going to work has increased significantly since last year but average salaries have not and, as a result, workers are considerably worse off.

“There are a number of small changes people can make to their day-to-day routine that will help counterbalance these rising costs; by seeking out the best deals at the supermarket or department store and making the most of discounts and cash-back offers.

 

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