Discover the Average Household Bills in the UK
By Motor Match • 09/01/2024
Discovering the true cost of living in the UK can be eye-opening, especially when it comes to household bills. These expenses can consume a significant portion of your monthly budget.
If you're curious about the average household bills in the UK, we've got you covered. Our comprehensive guide will help you understand what to expect and how to budget effectively for your new home.
Mortgage and Rent
One major expense to consider is mortgage or rent payments, which can be the largest monthly outgoing for many people. Mortgages involve borrowing money to purchase a home and repaying it in installments, while renting involves paying a monthly fee to a landlord. Understanding these options and the factors that influence their costs is crucial. Mortgage and rent payments vary dramatically but they can often be one of of the most expensive monthly costs.
Gas and Electricity
In addition, gas and electricity bills are unavoidable necessities in most UK homes. These bills cover heating, lighting, cooking, and other household needs. The average dual fuel bill was around £104.50 per month in 2019, but it has since increased to £142 per month for a 1-2 person household in 2023. Keep in mind that rates can vary based on usage, region, and energy provider, so it's wise to compare prices and explore alternative options.
Council Tax
Council tax is another fixed cost that varies depending on factors such as property value, local council rates, and household size. In 2021, the average council tax bill in England was £1,898 per year, but it has now risen to an average of £2,000 per year for the most popular property banding. Understanding how council tax is calculated can help you plan your budget accordingly.
Water
Water bills are determined by your location and property value, making them less negotiable compared to energy bills. The average national monthly water bill payment is £34, which includes a fixed rate fee and usage charges.
TV and Broadband
As our reliance on the internet and television increases, broadband and TV packages have become essential expenses. The average cost of broadband in the UK is approximately £30 per month, while TV subscription packages range from £20 to £50 per month. If you prefer separate providers for these services, that's also an option to explore.
Home Insurance
It is also very important to insure your home in order to financially protect yourself. This includes both buildings and contents insurance. This averages £12 per month in the UK.
Understanding the average household bills in the UK will help you to make informed decisions about your budget and financial priorities. Remember to research and compare options to find the best deals for your specific needs.
To help with the rising cost of bills, Sell 2 Swansway are currently offering an the chance to win £1,500 cash towards your January bills when you sell your car to them!
You may also like…