Debt management could help people with lifetime bills
Debt management could help people with lifetime bills
- Tuesday, 14 July 2009The average UK family pays nearly £1 million in bills during their lifetime, according to research from Confused.com.
Data indicates that the average UK household pays £18,114.54 in bills per year, which equates to a total lifetime payment of £941,956.08 between the ages of 18 and 70.
With such hefty outgoings - and a large number of people reliant on credit in order to pay them – debt management is a potentially vital tool in dealing with such payments.
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."
The biggest cost incurred is rent or mortgage payments, with an average of £6,182.28 paid per person annually, with people spending a further £3,724.24 on food.
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