By Daniel Hunter
Work-related expenses such as childcare, commuting, work clothes and computer equipment costs are rising faster than pay rises, according to new research from Santander.
Combined, they cost the average full-time employee £2,681 per year, accounting for just over one tenth of their disposable income.
Average salaries have risen by just 1.4% while the average cost of working has increased by 10% over the past year, leaving workers significantly out of pocket.
Those who drive to work spend an average of £955 a year on travel, with £835 spent on fuel, £82 on parking charges and £38 on tolls or congestion charges.
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 one in five workers, who spend an average of £3,656 per year on it, up from £3,632 last year.
“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,” said Alan Mathewson, CEO of Santander Cards.
“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 cashback offers.”
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