The bills being faced by households around the country have risen by around 26 per cent over the course of the past two years, it has been claimed.
According to a report from Combined Insurance company, the typical person in the UK had to pay out around £945 each month in June of 2006 but by now this figure is closer to £1,280.
And as millions of people do their best to become debt free rises in the cost of everyday services, such as water supplies and TV subscriptions, have left UK consumers facing a serious financial struggle.
“The many cost of living hikes are taking their toll on the monthly budget and many Brits are living on the edge with their finances,” said Nigel Brittle, director at Combined Insurance.
Earlier this week, the Axa insurance firm suggested that an increasing number of families from “middle Britain” are seeking professional help with their debt management problems.
By Johan Young