Guilty pleasures revealed

• Brits biggest vices are smoking, drinking, eating out and junk food
• Buying takeaway coffees costs more each week than the average life insurance premium could cost them for a month
• Average monthly disposable income in the UK is £,1067
• Residents of Liverpool have the highest disposable monthly income
   

New research from Direct Line Life Insurance¹ reveals Brit’s most expensive guilty pleasures each month are cigarettes or vaping, eating out, drinking and bingeing on fast food. Smokers and vapers spend almost £100 a month feeding their habit, while drinkers spend £69 in the pub.  Takeaway lovers invest £58 every month on food deliveries, while fast food addicts spend a whopping £38.

When it comes to getting their caffeine fix, British coffee lovers Brits spend over £30 a month, almost £400 a year. Whilst we might find it easy to justify life’s little luxuries day to day, six in ten (61 per cent) of us do not have any life insurance cover, despite the average monthly premium starting from less than our weekly coffee run or a couple of drinks down the pub.

Taking a closer look at our disposable income, Brits have on average of £1,067 left each month after tax and their rent/mortgage commitments. Across the UK, residents of Liverpool claim to have the highest monthly disposable income at £1,401 followed by London (£1,206) and Plymouth (£1,183). At the other end of the scale, residents in Glasgow have £818 left each month to spend after tax and accommodation, and those in Birmingham have £889.      
 

Monthly disposable income by City

Source:  Direct Line Life Insurance

When it comes to gender, men claim to have an average monthly disposable income² of almost a third higher than women at £1,223, with women reporting to have over £300 less at £916 to spend each month.    

Jane Morgan, Business Manager at Direct Line Life Insurance, commented: “Everyone loves to unwind at the weekend with a few drinks and their favourite takeaway meal, but it’s important not to get caught up in the day to day and think about your long-term future too.

“By making a few small sacrifices, like cutting back on a few coffees or choosing to make dinner at home once a month, rather than going out to eat, you can instead provide long term financial protection for your family.

“It’s easy to say 'I'll think about that later' or put it off for a rainy day, but it's important to be prepared for your financial future, no matter what life may bring. Planning for your financial future can appear intimidating and it's easy to put off especially when thinking about life insurance or critical illness cover, but some things aren’t as mind boggling or as expensive as you might think.”

For more information on life insurance, please visit: https://www.directline.com/life-cover/family-financial-planning

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Notes to Editors

• ¹Research conducted by Opinium among a nationally representative sample of 2,011 adults between 24th to 26th March 2018
• ²Income after tax, pension, accommodation and national insurance payments are taken into account
• ³Based on MoneySupermarket data for an average life insurance policy (excluding critical illness cover) for a healthy, 30-40 year old, married adult living in the UK
   

For further information please contact:
 

Claire Jarrett

Media Relations Executive

Direct Line Group

Tel: 01651 832 411

Email: claire.jarrett@directlinegroup.co.uk

Katie Ormrod

Citigate Dewe Rogerson

Tel: 0207 282 1023

Email: katie.ormrod@citigatedewerogerson.com

Direct Line

Started in 1985, Direct Line became the first UK insurance company to use the telephone as its main channel of communication. It provides motor, home, travel, pet and life insurance cover direct to customers by phone or on-line.

Direct Line life insurance policies are underwritten by Legal & General, registered office: One Coleman Street, London EC2R 5AA. Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 117659. You can check the FCA register at www.fca.org.uk/register or call the FCA on 0800 111 6768. Legal & General will introduce customers who select the Funeral Benefit Option to Dignity Funeral Services, who are members of the National Association of Funeral Directors.

Customers can find out more about Direct Line products or get a quote by calling 0800 145 5522 or visiting www.directline.com/life-cover