Revealed: The British city where your money goes the further

The city where Brits get the most bang for the buck and spend the lowest percentage of their income on bills has been revealed.

The latest Household Money Index (HMI) report has revealed that people across the UK are spending less on their bills than this time last year.

Figures show that the average person in the UK has £684.70 of disposable income left over at the end of each month – £60.70 a month more than this time last year.

And while many are spending less, there are some cities where the pennies from your payslips could go further.

As the HMI reveals where your money would go further, read on to find out if your city made top five on the list.

Topping the list is the UK's shipping and cruise capital - Southampton, which boasts 45,000 jobs.

According to the MoneySuperMarket , the coastal town is the place to be if you want to make the most of your pay cheque.

Figures show that workers in Solent City have the most disposable income on average compared to any other British city, with residents spending only 60 per cent of their income after tax on bills.

The national average saw Brits spend nearly 70 per cent of their wages on outgoings in the last 12 months, with £685 leftover a month.

Hot on Southampton's heels was Belfast, Brighton Sheffield and Newcastle, whose residents spent less than 64 per cent of their income after outgoings.

Maddy Alexander-Grout, Southampton local, said: 'Southampton offers incredible value for money.

'Our monthly bills total approximately £2,000, which includes our mortgage, utilities, council tax, and other essential expenses.

'This only accounts for roughly 60% of our household's monthly income, allowing us to stretch our income much further than we could in other cities. It means we can enjoy more activities without going over budget.'

Elsewhere, Liverpudlians were splashing the most cash on bills, with an eye-watering 75 per cent of their income - on average- spent on outgoings.

Despite similar levels of average income, a person in Southampton has £825 left over at the end of each month, compared to just £491 in Liverpool.

And while London and Manchester are consistently the most expensive places to live over the last year residents in both cities have relatively similar disposable income.

Largely due to the higher rate of earning in the capital in comparison to Manchester, workers in both cities are left with £706.76 and £712.48 respectively after outgoings.

The latest statistics indicate that 28p extra is being spent on both bills and expenses every day since June, while non-essential spending has increased dramatically.

Peter Duffy, CEO at MONY Group - the parent company of MoneySuperMarket - said: 'MoneySuperMarket's second annual Household Money Index offers detailed insight into UK spending habits over the past 12 months, using MoneySuperMarket data.

'This year, people report having a bit more money left after they've paid bills and expenses, which they're choosing to spend on things like home improvements, subscription services, and gym memberships.

'Even with the rise in disposable income, people are more determined than ever to find savings wherever possible.

'This is borne out by the success of MoneySuperMarket's SuperSaveClub, which now has over 500,000 members who have saved an extra £122m since this time last year.'

The annual HMI monitors what 10,000 UK survey respondents have spent on a basket of 31 bills and outgoings on a quarterly basis.