The spending pattern of the average Briton may startle you

The average British household is spending nearly two thirds of its total income just running the home, according to the latest figures. While the median household disposable income is £27,600, a survey carried out by a major insurer found that the total average cost of a mortgage plus household bills is £20,000. While the average monthly cost of running a home purchased with a mortgage is £1,634, the survey also found that people who rent their home are paying a similar amount £1,576. Currently, the average yearly salary in the UK is £27,600. With two wage earners in a household both making this amount, it means that homeowners are spending just over 45 per cent of their take-home pay just servicing their mortgage and paying household bills. Those who rent, on the other hand, are paying a little under 43 per cent of their net salary on running the house. How is the household income spent? The data uncovered by the survey also shows that the average cost of paying the regular bil


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