Wednesday 15 October 2014

The Money Statistics - October 2014

The latest money management statistics have now been published by The Money Charity, which was known as Credit Action until October 2013, and is the UK’s financial capability charity.

These figures have been produced since 2005 and were previously called the debt statistics, but have now been renamed to encompass a wider range of how we spend money in the UK.

The key figures for October 2014 can be seen below.
• £55,008: average household debt (including mortgages) in August, up from £54,981 in July
• 6.7%: percentage of household pre-tax income saved
• £521: average annual increase household debt per UK adult
• 6,405: new debt problems dealt with by Citizens Advice Bureau every working day
• £115,940: average mortgage size for households with mortgages
• 1,000: number of people who became redundant every day between May and July
• 4 Minutes and 51 Seconds: time between each bankruptcy and/or insolvency
• £162.6bn: outstanding consumer credit debt at the end of August 2014
• £4,347 per second: government borrowing in July 2014
• £29,013: average first-time buyer deposit

If you know any businesses or individuals that are struggling with debt, recommend they visit our website to see how we have helped similar people. We are happy to provide a free initial consultation without obligation.

There is Life after Debt!

Source: The Money Charity

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