Survey: Majority of households feeling strapped for cash

A recent survey found that money is tight for a majority of Shanghai households, local media reported Sunday.

The survey, which was conducted by the Shanghai Women's Federation and the Gender and Development Research Center at Fudan University, found that monthly household expenses in the city range from 500 ($79.15) to 5,000 yuan.

About 78 percent of respondents with household incomes of less than 5,000 yuan per month reported feeling strapped for cash.

About 71 percent of respondents with household incomes between 5,000 yuan and 10,000 yuan and 82 percent of respondents with household incomes between 10,000 yuan and 20,000 yuan reported the same, according to Jiefang Daily.

Food, education and transportation were the three areas that local families spent most of their household budgets on each month, according to the report.

Food was the biggest expense for more than 80 percent of respondents, more than double the number of respondents who chose education or transportation as their top expense.

The survey also found that 70 percent of respondents don't track their household expenses.

Only 9 percent of respondents approved of spouses splitting household expenses, and only 50 percent reported that they manage household expenses with their spouses.

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