PEOPLE living in the South West have just £195.09 of disposable income each month, less than £7 a day, and the lowest in the country, a study has found.

The recent poll, commissioned by Salary Finance, found that after paying out for their rent and mortgage, utility bills, food and other living expenses, just a small amount of ‘spare’ cash is left over for the lighter things in life.

In comparison to the nation this means people in the South West are worse off than the national average, which sees people left with £276 of disposable income each month.

Of those surveyed living in the South West region, 47 per cent even claim to often have months with absolutely no disposable income whatsoever.

And nearly four in ten feel like they are never going to be earning enough money to give them a decent amount of disposable income.

Salary Finance chief executive officer Asesh Sarkar said: "For many, the main reason for going to work is to earn a living.

"But while we want to be able to pay the bills, it would be nice to have at least a little bit left over to spend on some of the lighter things in life.

"Unfortunately, it seems for many, there is just not enough money to go around and they are left with very little spare cash after paying out for all the essentials.

"This can lead to feelings of stress and even depression concerning financial wellbeing, which can impact people both personally and professionally."