This is the number one biggest expense for Brits – and no, it’s not housing

We spend nearly £75 a week on this one thing

Transport is the number one biggest expense for Brits, overtaking the cost of housing.

In 2014, transport hit the top spot after costs increased 6% to £74.80 per week on average. This compared with 2013’s £70.60 (adjusted for inflation).

On average, British people spend £531.30 per week in total. This was a rise in 2013 and 2012, but less than when spending peaked in 2004/05.

A third of the spending on transport was vehicle purchases, with more being spent on second hand cars and vans than new, due to volume.

Though public transport fares are a spiralling cost in London, averaged across the entire population, rail fares cost just £3.60 and bus fares £1.50. Spending on air fares averaged £6.10 per week.

The cost of housing, including fuel and power, fell in 2014, from 2013’s all-time high. Thanks to people spending less on fuel,in 2014 the amount spent was £72.70 per week, compared with £76.60 in 2013.

 

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Readers' comments (1)

  • Anonymous

    Inside London housing cost more than transport, outside London its the other way round. To save money live outside London and car share.

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