You are here: Home - Saving & Banking - News -

Rises in consumer debt and recreational spending

Written by:

Consumers’ recreational spending has risen strongly in recent years while net lending to individuals has almost doubled since 2000, according to the Office of National Statistics (ONS).

Spending on recreation and culture was 2.8 times greater in 2006, amounting to £98bn a year, while communication expenditure was 3.1 times higher at £17bn.

ONS data also showed that the net value of mortgages and other lending to individuals by banks, building societies and similar lenders in the UK doubled between 2000 and 2003, and remained high at around £29 billion until 2007.

Other figures found that there were 106,700 individual insolvencies in England and Wales in 2007, up from around 35,000 in 2003.

Related Posts


Tag Box

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.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

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

Read previous post:
Resolution maintains blue chip bias

Resolution Asset Management says it will maintain a predominantly blue-chip bias until British consumers acknowledge the extent of the credit...