Tag Archives: household bills

Grand National: what the UK spends and how it compares

horse-race-girl-300Many of us will be having a flutter on the Grand National this weekend. For most of us it’s a harmless bit of fun but we’re actually spending more than ever.

Betting turnover on UK horse racing’s most famous event is expected to exceed £150m for the first time this year, with a spokesperson from one major firm predicting that one in four UK adults will bet on the race, judging by their overall figures.

But how does £150m compare with our regular expenditure and national trends? Using the latest monthly figures from The Money Charity, we worked out that £150m could roughly mean the following:

  • The average UK deposit for mortgage is now £37,441 =  4006 UK mortgage deposits.

  • Parents now spend a record £231,843 on raising a child to their 21st birthday =  647 children could be raised to the age of 21.

  • It costs £51.12 to fill a 50 litre unleaded tank = 2.9m unleaded cars filled.

  • The average total debt per household – including mortgages – was £54,261 in February = 2764 people’s household debt including mortgage could be cleared.

  • Total credit card debt in February 2016 was £63.82bn. Per household this is £2,364 = 63,451 households’ credit card debt could be paid off 

Food for thought maybe as we join the work sweepstake this weekend!

5 ways paying household bills could help get you better credit

Millions of people could now benefit from a credit score boost, as information about some regular household bills is now being included in their credit reports.

Since 2009, millions more records have been added to Experian credit reports from providers of gas, electricity, water and fixed communications services.

These utilities agreements now make up more than 1 in 8 credit accounts on Experian reports, as a result of Experian’s on-going programme to help widen people’s access to credit and other essential services, by helping bill payers present themselves in the best possible light. It also underlines the value of paying regular bills on time.

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