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Britons have £1,500 less disposable wealth than at the same time last year, according to new research.
Mortgage debt is responsible for this reduction in extra cash to spend, a study by KDB reveals.
Figures cited in the report state that since the average mortgage is more than £150,000, homeowners earning £23,000 are spending almost 70 per cent of their salary to pay off what they owe.
KDB`s chief analyst Matt Boot told the Daily Mail: "It seems that a major disparity is starting to appear between debt and disposable asset values.
"This phenomenon is already economically worrying for the country, and should command the attention of economists, the government and the business community."
At the end of February, personal debt in the UK totalled £1.31 billion, according to Credit Action.
Additionally, debt grew at a rate of 10.5 per cent for the previous twelve months, the organisation claims.
