Household bill costs ‘soaring’

The household bills being paid by consumers around the UK have been soaring in scale in recent months and years, according to reports.

As millions of people try to find a solution to their debt management problems, figures from Citizens Advice have indicated that council tax, mortgage repayments and energy bills are putting ever more pressure on household finances.

Overall, each household in the UK is believed to have seen the annual total of their everyday bills increase by around £6,000 to almost £14,800 during the past five years.

This total means each British family is being obliged to pay out close to £40 each day and for many the financial pressures have led to serious debt management woes.

“Our debt inquiry figures suggest that growing numbers of people are not only finding themselves over-committed on credit cards, loans and overdrafts, but are also struggling to meet day-to-day living expenses,” said Moira Haynes from Citizens Advice.

Citizens Advice recently claimed that the subprime mortgage lending has undermined home ownership in the UK.