Recent news articles demonstrate that household bills are continuing to increase. According to Money Saving Expert’s Bills Tracker, household bills have increased by 2.2% over 12 months to June 2018.
Whilst most household categories have remained stable, it is energy bills that have increased, including domestic gas and electricity, and fuel.
Recent announcements from energy suppliers that bills would increase has added to the squeeze on UK household budgets.
British Gas, for example, announced its second price hike of 2018 recently. It raised its standard variable tariff – which affects 3.5m households.
This underlines why UK households should never be on a standard variable tariff.
The fact that there are 3.5m households on a variable tariff is a surprise, given that there are many comparison sites available where UK households can secure a fixed tariff.
Another article found that compulsory bills now absorb nearly two thirds (62%) of all income for millennial households.
Mobile phones, broadband and increased commuting costs gobble up a further fifth of their disposable income. Household admin just became a little harder.