Saudi families overspend on average SR1,300 a month, according to statistics published in 2012.

The average family was found to earn around SR16,600 a month, while spending almost SR18,000, the study found.

The report revealed a 4.7 percent increase in living costs relative to income between 2007 and 2012.

The report also revealed, nevertheless, an almost 18 percent increase in household income, compared with a more than 22 percent inflation rate.

The study, however, did not take into account households with a higher monthly income.

On the other hand, a 2007 survey on interest rates indicated a SR830 monthly surplus and a lower monthly income of just over SR14,000.

Results from yet another survey conducted in 2012, indicated that Saudi family income has increased by nearly 18 percent over a five-year period and spending by more than 35 percent.