- Thursday, 14 January 2010IVA help could benefit those struggling to make ends meet on the back of continued increases in household expenditure.
The latest figures from the Office for National Statistics (ONS) reveal that most categories of expenditure increased in 2008. The average UK household weekly spend in 2008 was £471.00, up from £459.20 in 2007.
Food and non-alcoholic drink rose to £50.70 per week on average, compared to £48.10 the previous year, and expenditure towards energy costs increased to £18.90 from £17.20.
According to the report, transport was the largest single expenditure for all households in the UK. Average weekly spending in this category rose to £63.40 in 2008, largely driven by a rise in petrol, diesel and motor oil costs - up from £18.30 a week to £21.00.
Financial expert Martin Bamford previously stated that many families would "feel the pinch" during 2010, as the combination of rising unemployment, interest rates and higher taxes reduced disposable income.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
| |
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ
Consumer Credit Licence Number: 0580960