You are here: Home - Household Bills - News -

Households spend more dining out but cut back on booze and tobacco

Written by: Paloma Kubiak
UK households spent more money on restaurants and hotels but cut back on alcohol and tobacco in the 2015/16 tax year, according to official statistics.
Households spend more dining out but cut back on booze and tobacco

The Office for National Statistics’ (ONS) family spending in the UK report showed the average weekly household spending remained level at £528.90 in the 2015/16 tax years as in the previous year.

It found that UK households spent more than £45 a week on restaurants and hotels for the first time in five years while the average weekly spend on alcohol and tobacco fell below £12 for the first time.

Based on the average total household expenditure, £72.70 each week was spent on transport, with petrol and diesel being the main contributing factor, while housing came in second place with an average weekly spend of £72.50.

The least amount of money per week was spent on health and education and it found that low income households spent a higher proportion of money on food and energy compared with higher income households.

The ONS noted that amid falling consumer confidence, though an increase in employment levels to 74.2% in the first quarter, average weekly spending hasn’t returned to the pre-economic downturn levels of spending seen before 2007.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Unfamiliar banks woo savers with top rates…is your money safe?

If you’ve been keeping an eye on the savings best buy tables, you’ll have noticed some unfamiliar names lu...

What the base rate rise means for you

The Bank of England has raised the base rate by 0.25% to 0.5% – following on from the increase from 0.1% to ...

How to get help with your energy bills

The rise in the energy price cap from April will mean millions of households will pay hundreds of pounds a yea...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week