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Realistbear

Average Household Bill Higher Than Average Salary

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http://uk.finance.yahoo.com/news/average-household-bill-higher-than-average-salary-tele-9fcab114cf14.html?x=0

The average household bill in Britain is now higher than the typical salary, it has emerged.
Households spend £1,542 every month on utility bills, rent or mortgage payments, the weekly shop and other bills. It equates to annual bill of £24,100.
However, the typical Briton earns an annual salary of £23,244, which after tax only leaves them with £1,497 each month.
It means the average household is left with no money to pay for any other living expenses, such as petrol and clothing.
Household bills have risen sharply by almost £650 in the past year, up from £17,860, with the cost of car insurance, mobile phones, and rent or mortgage among the biggest increases, according to the research by price comparison website Confused.com.

Bottom line: people have been priced out at every level in this country. It is now simply TFE to live here if you are at or near average earnings. Brown created a rich man's miracle economy.

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no problem, we can send the kids out to work as flu brush operatives.

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http://uk.finance.yahoo.com/news/average-household-bill-higher-than-average-salary-tele-9fcab114cf14.html?x=0

The average household bill in Britain is now higher than the typical salary, it has emerged.
Households spend £1,542 every month on utility bills, rent or mortgage payments, the weekly shop and other bills. It equates to annual bill of £24,100.
However, the typical Briton earns an annual salary of £23,244, which after tax only leaves them with £1,497 each month.
It means the average household is left with no money to pay for any other living expenses, such as petrol and clothing.
Household bills have risen sharply by almost £650 in the past year, up from £17,860, with the cost of car insurance, mobile phones, and rent or mortgage among the biggest increases, according to the research by price comparison website Confused.com.

Bottom line: people have been priced out at every level in this country. It is now simply TFE to live here if you are at or near average earnings. Brown created a rich man's miracle economy.

"Car insurance has seen the biggest jump over the past 12 months, going up £369.60 to an average of £1,460.04 per year."

really? Mine is £360 per year and most people I know pay less than that!

Does it include sky and mobile phone? e.g. I pay £25 month contract - I certainly would not if money was tight. Would get cheap payasyougo.

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"Car insurance has seen the biggest jump over the past 12 months, going up £369.60 to an average of £1,460.04 per year."

really? Mine is £360 per year and most people I know pay less than that!

Does it include sky and mobile phone? e.g. I pay £25 month contract - I certainly would not if money was tight. Would get cheap payasyougo.

all drivers are under 25 dontchaknow.

probably the age of the "reporter".

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Although I dispute the figures in that report, the fact remains that there is little demand to create the growth that is being predicted by the OBR or the government.

When people have such low surplus income, combined with the drying up of credit sources, it seems very hard to see where any demand is going to come from. The people who would use credit are up to their necks and those who never consider credit won't be easily tempted out of their holes in an austere environment.

I sometimes wonder where economists belong. They involve themselves in a 'science' that has unrepeatable results, others of their trade disagree with and experiments that cannot be repeated from the same start point. If Chemistry or Physics were run in such a way it would be discredited and the proponents scorned. How do they get away with such Witchcraft ?

Surely some common sense applies to the matter, or ideally a long maligned chap who now lies entombed in Highgate cemetery. A new way is essential to stop productive wealth being frittered away on speculative bubbles or this country (and most other 'developed' economies) are in danger of returning to Feudal states.

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What I have also noticed over the last couple of years is how more and more companies try to stitch you up with minimum contracts...once it only used to be the gym membership 12 months contract.....now it is the household utility bills and insurances, they charge a hefty penalty if cancelled within the year...next mobile phone contracts (not that I have one) was 12 months now 18 months....telephone bills land line there was no contract you just gave them 2 weeks notice to close....now to take up a service you have to do it min 12 or 18 months, same for broadband.....but the bad thing about it is they can increase their charges within that time, but if you want to cancel because of it you have to pay a penalty.

All these large utility companies know all the tricks to trap you and relieve you of your hard earned cash....and when you want to cancel they make it so difficult like phoning a costly telephone number they answer then keep you holding....but when you want to purchase a product its a freephone number, funny that.

Everything seems so much like hard work these days....all they are interested is your money, customer service comes way down the pecking order. ;)

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"After tax"

What about "after tax and after tax credits"

You have a hugely subsided system, govt handouts are propping up the economy everywhere to avoid deflation.

Something is going to give, this is unsustainable.

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This just does not add up. If it were the case of people having no disposable spending after bills then why are retail sales so strong, why do we have such inflation, why has the savings rate jumped from 0.5% to 7%?

This is just crap scaremongering from somebody with a VI. What VI I do not know perhaps a .5% tracker mortgage.

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Erm, multiple-earner households?

till the kids are on their way.

and 1 in 5 is disabled.

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Although I dispute the figures in that report, the fact remains that there is little demand to create the growth that is being predicted by the OBR or the government.

When people have such low surplus income, combined with the drying up of credit sources, it seems very hard to see where any demand is going to come from. The people who would use credit are up to their necks and those who never consider credit won't be easily tempted out of their holes in an austere environment.

I sometimes wonder where economists belong. They involve themselves in a 'science' that has unrepeatable results, others of their trade disagree with and experiments that cannot be repeated from the same start point. If Chemistry or Physics were run in such a way it would be discredited and the proponents scorned. How do they get away with such Witchcraft ?

Surely some common sense applies to the matter, or ideally a long maligned chap who now lies entombed in Highgate cemetery. A new way is essential to stop productive wealth being frittered away on speculative bubbles or this country (and most other 'developed' economies) are in danger of returning to Feudal states.

Good point. That is because although Economists desperately want it to be considered as a science, they are in my opinion a branch of psychology.

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Good point. That is because although Economists desperately want it to be considered as a science, they are in my opinion a branch of psychology.

Mystic Meg would have made a good economist.

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Although I dispute the figures in that report, the fact remains that there is little demand to create the growth that is being predicted by the OBR or the government.

When people have such low surplus income, combined with the drying up of credit sources, it seems very hard to see where any demand is going to come from. The people who would use credit are up to their necks and those who never consider credit won't be easily tempted out of their holes in an austere environment.

I sometimes wonder where economists belong. They involve themselves in a 'science' that has unrepeatable results, others of their trade disagree with and experiments that cannot be repeated from the same start point. If Chemistry or Physics were run in such a way it would be discredited and the proponents scorned. How do they get away with such Witchcraft ?

Surely some common sense applies to the matter, or ideally a long maligned chap who now lies entombed in Highgate cemetery. A new way is essential to stop productive wealth being frittered away on speculative bubbles or this country (and most other 'developed' economies) are in danger of returning to Feudal states.

The best yield at the moment is from paying down debt. Quite simple.

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If QE2 goes through bills are going to rocket even more.

The bent bunch of kunts at the BOE are inverterate meddlers and look like they are going to unleash something that they will have no control over and which will destroy the country (more than they have already).

Edited by OnlyMe

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"Car insurance has seen the biggest jump over the past 12 months, going up £369.60 to an average of £1,460.04 per year."

really? Mine is £360 per year and most people I know pay less than that!

Does it include sky and mobile phone? e.g. I pay £25 month contract - I certainly would not if money was tight. Would get cheap payasyougo.

The mobile phone company considers itself fortunate to get £20 a year out of me!

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till the kids are on their way.

and 1 in 5 is disabled.

Your points are true, but my point (which I may not have made very well) is that it isn't particularly meaningful to compare average household bill to average salary because it isn't the case that all households have one, and only one, bread winner. 

In the meantime I know a few disabled people who hold down jobs and make good incomes - they aren't all sitting around watchng Jeremy Kyle and waiting for meals-on-wheels.

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http://uk.finance.yahoo.com/news/average-household-bill-higher-than-average-salary-tele-9fcab114cf14.html?x=0

The average household bill in Britain is now higher than the typical salary, it has emerged.
Households spend £1,542 every month on utility bills, rent or mortgage payments, the weekly shop and other bills. It equates to annual bill of £24,100.
However, the typical Briton earns an annual salary of £23,244, which after tax only leaves them with £1,497 each month.
It means the average household is left with no money to pay for any other living expenses, such as petrol and clothing.
Assuming of course that the average household consists of one wage earner only
;)

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till the kids are on their way.

and 1 in 5 is disabled.

Presumably the cost of the kids is factored into the household bills? :unsure:

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Your points are true, but my point (which I may not have made very well) is that it isn't particularly meaningful to compare average household bill to average salary because it isn't the case that all households have one, and only one, bread winner.

In the meantime I know a few disabled people who hold down jobs and make good incomes - they aren't all sitting around watchng Jeremy Kyle and waiting for meals-on-wheels.

I agree, the article is meaningless...the initial figures are about right, but with 1.5trn in outstanding household debt, Im sure any second income is on average, well and truly spent.

80,000 bankruptcies and rising tell us much more.

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Your points are true, but my point (which I may not have made very well) is that it isn't particularly meaningful to compare average household bill to average salary because it isn't the case that all households have one, and only one, bread winner. 

In the meantime I know a few disabled people who hold down jobs and make good incomes - they aren't all sitting around watchng Jeremy Kyle and waiting for meals-on-wheels.

IIRC the average household income is 32k-ish (that may be the median, in which case I'm happy to be corrected). But comparing like with like wouldn't create any sensational headlines and get the 'research' sponsors' name in the press, would it?

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IIRC the average household income is 32k-ish (that may be the median, in which case I'm happy to be corrected). But comparing like with like wouldn't create any sensational headlines and get the 'research' sponsors' name in the press, would it?

Indeedy not. It's a shame there's little or no good journalism anymore. What exactly do all those media studies students learn?

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"Car insurance has seen the biggest jump over the past 12 months, going up £369.60 to an average of £1,460.04 per year."

really? Mine is £360 per year and most people I know pay less than that!

Does it include sky and mobile phone? e.g. I pay £25 month contract - I certainly would not if money was tight. Would get cheap payasyougo.

My wifes renewal just arrived - £230 which is up from £178 last year for same car. 29% increase!

The article is not far from the the truth in many cases. I quote the FSA research as reported by the Torygraph yesterday; '' ...46% of housholds that took mortgages out between 2005-2008 have either no money left or face a shortfall every month, after mortgage payments and living costs are deducted.''

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  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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