Debtors cutting back on clothes, research shows

Those in debt and other UK residents appear to be cutting back on clothing and footwear, with amounts spent per week reaching a record low for 2008.

This is according to the latest figures from the Office for National Statistics, which revealed that the average expenditure in these areas was £21.60, although other categories climbed in that year.

In the body’s annual report, Family Spending – which surveys 6,000 British households – it was seen that food and non-alcoholic beverages climbed to £50.70 a week from 2007’s £48.10.

Furthermore, those living in more rural areas seem to be spending more every seven-day period than city-dwellers, with the average bills of those in the country reaching £505.40, compared to £446.70.

Meanwhile, the cost of living rose by £670 between 2008 and 2009, recent research from MGM Advantage indicated.

It was also shown that retired homeowners will require an extra £429 to live as they have grown accustomed because of this increase.

By Sarah Adie