Workers in the UK collectively spend £67 billion per year on costs they incur specifically because of their job, and these costs are rising, according to new research from Santander 1I2I3 cashback credit card.
Work-related expenses such as childcare, commuting, work clothes and computer equipment cost the average full-time employee £2,681 per year, accounting for 12 per cent of their disposable income. The survey points out that although average salaries have risen by around 1.4 per cent, the average cost of working has also increased by 10 per cent over the past year.
It finds 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 one in five (19 per cent) workers, who spend an average of £3,656 per year on it, up from £3,632 last year.
Santander 1|2|3 credit card surveyed full and part time workers to ascertain how much they spend on all work-related products and services that they cannot claim back, and found that the amount spent on almost all items had increased significantly in the last year.
Alan Mathewson, CEO Santander Cards, said: “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 cashback offers.”