Posts tagged with "MoneySuperMarket"

Best UK City For Families

BABY- FRIENDLY BATH IS BEST UK CITY FOR FAMILIES
  • Bath takes top spot for second successive year in MoneySuperMarket’s annual Family Living Index
  • Bristol is the least family friendly city, with London again near the bottom of the list
  • MoneySuperMarket reveals how to manage your finances in preparation for buying a home

 MoneySuperMarket, the UK’s leading price comparison site, today reveals that Bath is officially the best location to raise a family – taking the top spot for the second year in a row.

MoneySuperMarket’s annual Family Living Index, now in its third year, ranks 35 UK cities based on six key factors (local school rankings, access to green space, likelihood of burglary, house prices, job opportunities and average salary) to help parents find the city that best matches their family requirements.

Bath retains its title as the UK’s best place to raise a family, thanks to a high number of job opportunities and schools rated ‘outstanding’ by Ofsted per capita. Wolverhampton is the second most desirable city to live in, moving up one place from last year, followed by the north east heartlands of Newcastle and Sunderland. Manchester again features in the top five, but moves down a place from fourth last year.

At the other end of the scale, Bristol has overtaken London to become this year’s least family friendly city, due to a 33% rise in contents theft and a decline in ‘outstanding’-rated schools. Despite having the highest average income and level of disposable income, London continues to find itself near the bottom of the list due to high average house prices (£478,749).

Top five family friendly cities: 

City 2018 rank 2019 rank Reason
Bath 1st 1st Retains top spot due to an increase in income
Wolverhampton 3rd 2nd Similar results from last year, but benefits from other locations’ declining scores
Newcastle 2nd 3rd Drops one place due to an increase in contents theft, despite having the most ‘outstanding’-rated schools per capita
Sunderland 6th 4th Rises thanks to improved income metrics
Manchester 4th 5th Drops one place due to a fall in income

Least family friendly cities:

City 2018 rank 2019 rank Reason
Bristol 33rd 35th Falls into last position due to a rise in contents theft rate and high house prices
London 35th 34th Places second to last in the rankings due to high house prices, despite having the highest income scores
Leicester 32nd 33rd Drops one place due to a decrease in average income
Peterborough 29th 32nd Drops three places because it has the fewest ‘outstanding’-rated schools in the country
Edinburgh 27th 31st Drops four places due to an increase in contents theft rate claims

The biggest climber this year is Newry, with the Northern Irish city jumping 10 places to 12th in the rankings due to an increase in disposable income and a high number of ‘outstanding’-rated schools per capita. Stoke, this year’s most affordable place to buy a home, Chester, Leeds and Brighton all climb seven places in the rankings.

Oxford sees the biggest drop, falling 18 places since last year to 30th in the rankings, due to its high contents theft rate, and a decreasing number of ‘outstanding’-rated schools. Cardiff also drops 14 places to 22nd, with a weakened position in almost every category, most notably in contents theft rate.

Further research reveals that two thirds (67%) of Brits believe they have seen a change to their quality of life in the last five years, with health (37%), a change in household bills (27%), moving to a new house (22%) and an increase in salary (21%) ranking as the top contributing factors. Other factors such as Brexit (8%), the local area changing (10%) and having to support an elderly family member (5%) also impacted their quality of life1.

Tom Flack, editor-in-chief at MoneySuperMarket, commented: “If you’re thinking of buying a home, it’s worth looking at the bigger picture and taking things such as local amenities, job opportunities and green spaces into consideration. If you have young children, take a look at the schools and the catchment area – many people will pick the area they live in based on this alone.

“When buying a property, it’s important to sort out the family finances so you can make the most of your money – and that includes purchases such as life insurance. If you have dependents, taking out a policy would provide financial support to your family if you were to pass away, helping them to clear outstanding debts and meet living expenses. Taking out life insurance will give you peace of mind, knowing that your family is protected financially in a worst case scenario.”

Head to MoneySuperMarket to see the full Family Living Index.

GENERATION OF AUTOMATION: IS YOUR JOB IN DANGER?

Humanity has made great strides in the technical world and, as of late, those strides have begun affecting the livelihood of people directly. Technology, (specifically A.I.) has seen vast advancements in recent years, so much so that for some industries the threat of redundancy is becoming ever more real.

According to original research from MoneySuperMarket, driverless vehicles are growing in capability and becoming more popular among firms that traditionally employ large numbers of drivers. Such a transition could trigger large-scale redundancies by as early as 2020. But, which jobs are in danger of being automated first?

Is Your Job At Risk?

To date in the UK, many motoring jobs have already fallen victim to automation – and as many as 1.2 million face a 67% or higher probability of their jobs being automated – representing up to £23.9 billion in annual salaries.

Among professional drivers, only driving instructors have little to fear, with the 29,000 employed in the UK having only a 13% chance of replacement with a machine. However, there are many other driving oriented jobs that could be in danger of being automated such as:
1. Food delivery drivers – The takeaway delivery industry is likely to see replacements across the board, with a 98% chance of automation.
2. Waste disposal workers – Waste collectors face a 93% likelihood of having their roles replaced by a machine. Volvo showcased a prototype bin lorry that uses drones to identify nearby bins, although this wouldn’t completely replace the need for human workers.
3. Taxi drivers – As with bus drivers, there have been moves to automate private transport services. Notably, Addison Lee has stated that the company intends to have automated vehicles deployed in London by 2021. In Tokyo, meanwhile, an autonomous taxi service began operation in August, transporting passengers along a set route.
Even though, driverless technology advances with each passing year, there are some jobs in emergency services, that aren’t at high risk of being fully automated. Services such as, ambulances, police and the fire department are at less risk of being fully replaced due to requiring additional skills.

Tom Flack, Editor-in-Chief at MoneySuperMarket, commented:

“Automation will bring massive changes across the whole of society and those who drive for a living may be among the first to feel its effects. Tests of driverless vehicles are well-advanced and are soon to be on the roads – with future positions in commercial usage already identified.
“If businesses see an opportunity to save money by making drivers redundant, they are likely to grab it – that’s the nature of competition. We can only hope that automation brings with it fresh employment opportunities for those whose existing roles disappear.”

UK Households Spending More Than They Earn

  • UK cost of living for a four-person family is £60,000 per year – 103 per cent of average household income
  • UK housing and utility costs have risen by 13 per cent1
  • The global study found the most affordable expat country for families is Sweden

Today, new research by leading price comparison website MoneySuperMarket reveals that the UK is the most expensive location to raise a family. The running costs associated with a four-person family in the UK exceeded those of Spain, USA, Germany and Sweden due to the high costs of rent, utility bills and groceries2.

The data is based on the average monthly cost of property, utility bills and grocery shopping for a family with two children in 10 locations. These locations are some of the most popular destinations for the British public to emigrate to. MoneySuperMarket also ranked the costs against the countries’ average full time salary, to reveal the percentage of salary two working adults must put towards household expenses. In the UK, the average cost of a four-person family is more than twice the combined total of two adults’ salaries4.

Popular expat destinations with lower living costs

With lower utility bills (£94.41 per month), heavily subsidised pre-school costs (£230.34) and a standard average monthly rent of £1,149.40, Sweden is the only country analysed where a single parent can comfortably afford to have two children, working out as 87 per cent of the average working salary5. Based on two adults with two children it’s even more affordable, eating into less than half (43 per cent) of the combined salaries.

The full ranking of the affordable global cities to raise a family, including a breakdown of all metrics, can be seen below:

Global cost of raising a four-person family

Changing costs over time

On average, the weekly food shop has lowered in price for families over the last 16 years, from £236 to £232. However, spending on both housing and utilities, and household goods and services, has increased by 11 per cent overall. In 2001, the average monthly cost of housing and utilities per person in the UK was £277.77, but by 2017 this figure had risen by 13 per cent to £314.82. Due to these rises, the cost of raising a family in the UK has become more expensive.

For more information on the most affordable countries to move to, check out the MoneySuperMarket report around the changes in UK household spending over time.