Mounting bills ‘could result in greater debt management need’

The amount of money Britons spend on bills each year could be forcing an increasing number of people to seek help, new figures have suggested.

A st…

The amount of money Britons spend on bills each year could be forcing an increasing number of people to seek help, new figures have suggested.

A study carried out by Confused.com revealed individuals in the UK shell out around £18,500 on such costs every 12 months.

It discovered the average household parts with £1,541.91 each month.

This sum includes utility levies, rent or mortgage payments, food expenditure and other bills.

Over the last year, the cost of living has ballooned by £642.12, with car insurance and mobile phone charges among the outlays that are hitting the British public hardest in the pocket, the survey revealed.

It included around 3,000 consumers and found Brits are forking out £528.37 a month – £6,340.44 a year – on rent or mortgage repayments alone.

This amount represents a hike of £158.16 on 2009 calculations.

However, it is motor insurance that has seen the most significant increase, as it has swelled by £369.60 to an average of £1,460.04 per annum.

In addition, food bills have escalated by £34.28 to £3,758.52 per year, while digital television subscriptions have risen by £19.32, resulting in viewers handing over £244.08 every 12 months in order to watch the medium.

Mobile phone bills have also jumped, with an extra £113.04 now placed on the £420.24 2009 average.

A spokesman for the organisation, noted; “With many people still feeling the effects of the recession, paying the bills is yet another money worry.”

The AA British Insurance Premium Index recently revealed car insurance premiums leapt by more than 11 per cent in the second quarter of 2010.

By Joe Shervin

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