Latest Debt News
Household costs prove expensive
20/01/2006 11:22:00
A new survey has revealed the cost of running the average UK household over the course of a lifetime – an overwhelming £679,042.
The Clerical Medical research showed that it costs in the region of £1,000 every month to keep a home functioning.
Mortgages or rent was the costliest item on the household bill, costing £5,190 a year on average, followed by food which costs £3,668 a year.
Bills for the telephone, gas, electricity and water all add up, not to mention council tax.
As a result, a fifth of homeowners take a stance towards bills of 'hoping that they'll just go away', while a quarter find they can not pay what they owe and are subsequently charged even more.
John Hiew, Clerical Medical managing director, commented: "They say buying a house is the most expensive purchase you will ever make, and they're not wrong.
"[And] once the house is bought it doesn't stop there. The general running costs and outgoings are quite staggering yet people still find the money from somewhere."
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