Bills Pile Up For Struggling UK Households
28 September 2023
UK household debts continue to mount up from every direction, with concerns that the reportable figures may only be the tip of the iceberg, according to the September 2023 Money Statistics, produced by The Money Charity.
Nationally, bill debt for the UK’s households has reached £22 billion, although due to limited data availability on key figures such as water bills and rent arrears, this total is only an estimate. The most accurate total is therefore broadly expected to be much higher, with 1 in 4 (27%) people stating they are behind on at least one bill. Looking overall, the average total debt per UK household, including mortgages, stands at £65,661 and per adult at £34,666, the equivalent of around 100.3% of average earnings.
Debts feature heavily in reported support line figures with a total of 46,431 people with energy debts contacting Citizens Advice in the first six months of 2023, a 17% increase on the same period last year. Those contacting them for advice and help in this area were reported to have average debts of £1,711.