A new study has revealed that the average Brit works 82% (299 days) of the year just to cover their household bills.
Just under a fifth (19%) say they are already making cutbacks on non‐essential household bills, with six in ten revealing that the higher cost of living means they even intend to spend less on Christmas this year.
That’s according to the findings of a new poll commissioned by GoCompare, which asked 2,000 UK adults for their opinions on the effects of rising costs.
With households being squeezed by a combination of falling wages and higher prices, the news that people work for a large percentage of the year just to pay off the essentials, will put more pressure on Britain’s JAMs (Just About Managing). GoCompare has calculated the point in the year that the average person is notionally ‘bill free’ to give a tangible view of how much it affects people.
The study also found that people in Wales are the most affected with almost half (44%) admitting that they are just about managing to meet rocketing household bills.
In Northern Ireland the figure is 40%; in Scotland, 37%.
Bill Free Day this year falls on October 26th, meaning that for the remaining part of the year – in theory at least ‐ we can spend our wages on the fun stuff, such as holidays, travel, hobbies, treats, clothes, meals out and Christmas presents.
Of course, things don’t quite work out that way in real life.
But there are steps all of us can take to try and bring forward our own Bill Free Day – simple measures that can help us to get on top of our finances and save money on the cost of just our everyday expenditure, whether that’s the amount we pay to run a car, travel to work, heat the home or stream Game of Thrones.
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