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Asda reveals under-30s disposable income slashed

Young shoppers have had disposable incomes slashed, according to latest Asda Income Tracker
Young shoppers have had disposable incomes slashed, according to latest Asda Income Tracker
// Disposable incomes have plunged 21.6% for the under 30s, according to the Asda Income Tracker
// Across all demographics disposable cash was slashed 16.5%, the second largest fall since the Asda Income Tracker launched in 2008

Asda has revealed that disposable income for the under-30s has fallen by more than a fifth compared to last year.

Shoppers spent 12.5% more on essentials last month, which now cost £774 per week on average. This means disposable income has been cut by 21.6% to just £150 per week.

Across all demographics, disposable income was slashed by 16.5% as soaring living costs eat into family budgets.

READ MORE: Asda launches Just Essentials range to help shoppers amid cost-of-living crisis

This was the second-largest fall since the Asda Income Tracker was first published in 2008. This means that households were on average £160.84 per month worse off compared to July 2021.

Customers are unsurprisingly concerned in this environment, with 89% of those surveyed stating they were worried about rising energy prices and 87% by the increase in inflation.

Asda, which has been rolling out its ‘Just Essentials’ value range, has recently launched an online ‘Essential Living Hub’, where customers can view a range of hints, tips and hacks to help them save energy, budget better, buy and cook smarter, entertain the kids for free and eat out without paying a penny.

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