Weekly household spending is now at its highest level since 2010, according to new statistics.
Households spent an average of £517 a week in 2013.
That’s the headline figure of some fascinating new stats from the Office for National Statistics (ONS) which provide a comprehensive breakdown of just how UK households spent their money last year.
Where our money is going
Of the £517.30 the average household spent each week, £74.40 went towards housing costs, energy, water, and maintenance, making it the single biggest category of expenditure, although it doesn’t include mortgages. So rent cost an average of £48.10, with the other bills accounting for £26.30.
Transport took second place, costing the average household £70.40 a week. The bulk of this came from purchasing and running our own vehicles (£21.20 and £34 a week respectively) compared to public transport costs (£15.30).
After that came recreation and culture, costing families £63.90 a week. This is a very broad category covering everything from leisure class fees (£2 a week) and TV subscriptions/licences (£6.70 a week) to newspapers (£1.60 a week) and package holidays (working out at £22.40 a week).
At the bottom of the list we have alcoholic drinks, tobacco and narcotics (£12), education (£8.50) and health (£6.20).
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How it has changed
The 2013 figure of £517.30 a week is up from £501 a week in 2012. Over a year that works out at an extra £847.60 that households have had to find, at a time when wage growth is not exactly blooming.
[SPOTLIGHT]It’s the highest weekly figure since 2010, when spending hit £520.50, though it’s significantly lower than the peak of £547.10 back in 2004/5.
It’s not just how much we spend that is changing though, but where we spend it too.
For example, transport was the top weekly expenditure from when the ONS started doing this breakdown in 2001/2 until 2011, when housing, fuel and power costs took over. Since then, not only has the housing category kept the top spot, but the amount we spend – and the difference between our housing spend and transport spend – has only got bigger.
When you consider that back in 2004/5 housing costs was also behind our spend on food and non-alcoholic drinks, it puts into stark focus just how much more money we are having to stump up for things like energy bills.
Varying by regions
The ONS figures break down regional spending over the years 2011 to 2013. Over that period, perhaps unsurprisingly, it was households in the South East (£585.40 per week) and London (£579.60) that spent the most. In contrast, those in the North East spent just £424.60.
There are some incredible variations in certain categories too. The South East easily spent the most per week on health at £10.70. That’s at least £2 a week more than any other region, and at least double what was spent in the North East, North West, West Midlands, Wales and Scotland.
And on education – which includes everything from nursery fees to university costs and school trips – Welsh households forked out a whopping £11.70 a week, second only to London at £13.10. Compare that to £3.50 a week in Scotland, £2.90 a week in Northern Ireland and £4.80 in Yorkshire and the Humber.
Meanwhile on cigarettes, households in Northern Ireland are spending £6.60 a week, which is at least double that spent in Wales, London, the South West and the East.
The full breakdown is available on the Office for National Statistics website.
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