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Wealthier than 1987, but not happier

By Carla Bevan on Wednesday 9 April 2008

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Money

The great British public has more money than two decades ago, but we're still not happy.

According to a new survey, the average British family is twice as well off as it was in 1987, and healthier, but still doesn't feel satisfied.

'In the UK, as in the United States and many other countries, life satisfaction overall has levelled off, despite increasing real economic wealth,' said Paul Allin, a spokesman for the Office for National Statistics, which published the Social Trends survey.

The report is apparently an example of the 'Easterline Paradox', whereby happiness declines after a certain level of wealth is achieved.

Interesting statistics from the study include the fact that the average household disposable income rose from £5,542 in 1971 to £13,000 in 2006, and that life expectancy for women rose from 75 to 82.

Our number of trips abroad have also increased by 153% (from 1986 to 2006), however, the amount of UK household debt has more than doubled.

Wednesday 9 April 2008

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We may earn more but our daily living costs are higher.

Gas, electricity, water, food ,petrol. Always rising, never falling. If you want to go by percentages I am worse of now, even though I am earning more than I was in 1987.
Comment by Catherine on April 10 11:46