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Monthly outgoings soar by 26%


Dizzy
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Consumers have seen their monthly outgoings soar by 26% during the past two years driven by higher housing and energy costs, research has shown.

 

The amount people spend on bills and living costs has soared from an average of ?945 in June 2006 to ?1,281 now, according to insurer Combined Insurance.

 

Consumers are spending around a third more on rent and mortgages than they were two years ago, with rents rising by an average of 30% and mortgage repayments jumping by 33%.

 

At the same time households claim they are spending about 32% more on gas and electricity at an average of ?90 a month, while other everyday bills such as television subscriptions and water rates have risen by 30%.

 

Council tax has increased by 22% during the past two years to average ?90 a month, while car running costs are 34% higher and spending on food has risen by 20%

 

Families with children have been particularly hard hit, with their average expenditure on child care soaring by 77% during the past two years, while other spending on children, such as clothes, has risen by 37%.

 

But there are areas where people have cut back on their spending, with households now spending about 8% less on insurance than they were in 2006, while telephone and broadband costs have fallen by 7%.

 

Nigel Brittle, director of Combined Insurance, said: "The many cost of living hikes are taking their toll on the monthly budget and many Britons are living on the edge with their finances."

 

YouGov questioned 1,983 people during May.

 

:shock: and it's getting worse :shock::evil:

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Labour MP, Transport Minister Tom Harris said that people should stop being "so bloody miserable".

"Our citizens have never been so well off". according to the Front Page of the Mail.

 

Obviously, he isn't struggling, so it doesn't matter if the cost of living rises out of all proportion. :roll::evil:

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Don't you think it's also a question of the rest of the world catching up, we have had it so good for so long as a nation and now we are under the impact of global change? As a nation we do not have a given right to have everything we have to earn it and put in the effort, I think that we've been asleep and now only just woken up.

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Very altruistic Geoff; but unfortunately not a view shared by the vast majority, who, when push comes to shove, will defend their self interest to the last - hence the perpetual divide between rich and poor. :roll: Interestingly, a Labour MP for Glasgow, can't understand why we're so pessimistic about our current circumstance, basically saying (in the immortal words of Harold McMillan) "we've never had it so good" - well errrm, as an MP, maybe HE hasn't?! :wink:

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