This latest set of figures really brings these costs into focus. When you see just how much it all adds up to, you can start to see how much you can save when you shop around to get the best deals.
Cardiff, UK (PRWEB) July 15, 2009
The average household is paying £18,114.54 a year on usual outgoings like rent, home insurance and utilities. That means a staggering £941,956.08 between the ages of 18 and 70.
Gareth Kloet, spokesman for Confused.com said: "Bills are an unfortunate fact of life and very few of us really stop to think about how much we're paying out each month."
"This latest set of figures really brings these costs into focus. When you see just how much it all adds up to, you can start to see how much you can save when you shop around to get the best deals."
Rent or mortgage payments are the biggest drain on finances, costing on average £6,182.28 every year.
Households stand to pay out a staggering £1,476.84 a year to secure their worldly goods through insurance for their home, contents, the car, plus life insurance.
A further £1,167.52 goes to cover the essential utilities of gas, electricity and water.
With people turning to credit to afford the lifestyle they want, plastic fantastic Brit spenders can expect to pay £2,790.60 a year on loan and credit cards repayments - a lifetime total of £145,111.20.
Over half (55 per cent) of those surveyed admitted that they are struggling to make ends meet at the moment, and alarmingly 17 per cent admit to burying their heads in the sand in the face of mounting costs and hoping it will all go away.
It is not all bad news, in light of the recession a savvy 67 per cent state they regularly shop around and an even more promising 83 per cent have switched companies to get a cheaper deal.
Gareth Kloet from comparison website Confused.com added: "Many people now have less money so it makes sense to spend a few minutes on comparison website to save money by finding the right financial products at the right price."
"Saving money on the regular bills you have to pay can mean not having to cut back on the fun things you enjoy."
"Using Confused.com is free and easy and a perfect way to prevent household bills getting the better of you."
For further information please contact:
Victoria Leyton, Confused.com: 02920 434357
Gareth Kloet, Head of Utilities: 02920 434268
Notes to editors
Confused.com is one of the UK's biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include car insurance, home insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance.
Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com's service is based on the most up-to-date information provided by UK suppliers and industry regulators.
Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.