The LCF is reviewed every year and changes are made to keep it up to date. Housing, fuel and power was the largest constituent of private renters' expenditure, accounting for 39% of total expenditure, whereas owners' largest expenses were food and non-alcoholic drinks and transport, both of which combined accounted for 29% of total expenditure. During your adult lifetime, average spending for women is nearly twice as high as for men. These are produced to consistently reflect the economic situation of the UK from a macroeconomic point of view, alongside other measures like gross domestic product (GDP). Consumer confidence, measured as the OECD consumer confidence index (CCI), was also lower in FYE 2019 relative to the preceding years. Other expenditure items also includes Licenses, fines and transfers, Holiday Spending and Money transfers and credit. During the financial year ending 2021 (FYE 2021) respondents did not complete a face-to-face interview with questions on regular items of household expenditure and income details, instead respondents participated in telephone interviews. View latest release. Income quintiles divide the household income distribution into five equal parts. All content is available under the Open Government Licence v3.0, except where otherwise stated, /peoplepopulationandcommunity/personalandhouseholdfinances/expenditure, Family spending in the UK: April 2019 to March 2020, Interpreting changes in UK income estimates during the coronavirus pandemic: financial year ending 2021, Variation in the Inflation Experience of UK Households, 2003-2014 reference tables, Detailed household expenditure by age of household reference person: Table A11, Components of household expenditure: Table A1, Detailed household expenditure by countries and regions: Table A35, Average weekly household expenditure by Output Area Classification (OAC) group: Table A52, Expenditure on food and non-alcoholic drinks by place of purchase: Table A2, Family spending in the UK: April 2021 to March 2022, Household debt in Great Britain: April 2016 to March 2018. This is not the latest release. Data are shown by place of purchase, income group (deciles) and age of household reference person. However, there is also evidence to suggest that incomes may be reported at the bottom of the distribution (Brewer & ODea, 2017). All values are deflated to FYE 2022 prices. Family spending has been designated by theUK Statistics AuthorityasNational Statistics, in accordance with theStatistics and Registration Service Act 2007and signifying compliance with theCode of Practice for Statistics. Youve accepted all cookies. The combination of these policies changed the nature of how people spent their time and managed their money. Family spending workbook 5: Expenditure on housing Dataset | Released 18 July 2022 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. The changing level of overall household spending has been driven by changing patterns across different categories of expenditure. Changes in spending can result from both changes in the price of goods and services, and changes in consumer behaviour, such as the amount and type of good and services purchased. Background The Australian population is getting older. Consumer expenditures vary by age By Ann C. Foster The Consumer Expenditure Survey (CE) publishes information classified by characteristics such as income, household size, and age of the reference person.1This article uses 2013 CE data to examine the relationship between age and consumer expenditures. This includes lockdowns, social distancing measures, closure of non-essential services, vaccine rollout, homeworking, and income support measures such as the Coronavirus Job Retention Scheme and Self-Employment Income Support Scheme. Households with the smallest income lie in the first decile and those with the largest income lie in the top decile. On average, households in the highest income decile spent almost four times as much as those in the lowest decile; however, their average disposable income was around 11 times higher, which suggests they had a greater ability to save. In comparison, mean income decreased by 0.6% in the year to March 2021,while median household disposable income increased by 2%. Youve accepted all cookies. By adjusting for the rate at which the prices of goods and services bought by households rise or fall (consumer price inflation), we can better isolate trends in the amount of goods and services purchased. From FYE 2002 to FYE 2008, household final consumption expenditure per head, as measured by the UK National Accounts, grew relatively strongly. . Each individual in a selected household is asked to complete a household interview and then an expenditure diary for two weeks. Each individual in a selected household is asked to complete a household interview and then an expenditure diary for two weeks. Findings from our Overseas travel and tourism: April 2022 provisional results further show that in April 2022 UK residents visits overseas estimates had not yet reached the levels seen in April 2019. In FYE 2022, spending on international air fare remained 5.30 (71%) below FYE 2020. Further quality and methodology information on strengths, limitations, appropriate uses, and how the data were created is available in our Living Costs and Food Survey technical report: financial year ending March 2021 and our Living Costs and Food Survey Quality and Methodology Information (QMI). However, there was a 13% increase in the purchase and loan of vehicles, equating to 3.40 per week. Spending and income figures indexed to decile 10. Those at the lower end of the income distribution are spending a larger proportion of their disposable income than those at the top. In the financial year ending (FYE) 2020, the period immediately prior to the coronavirus (COVID-19) pandemic, average weekly household spending in the UK was 587.90, down slightly (not significantly) from FYE 2019 (603.10 adjusted for inflation), despite average income increasing modestly during the same period. This bulletin uses the mean when referring to averages unless stated otherwise. That means Gen Xers outspend millennials and baby boomers by 41% and 18% respectively. All spending estimates are rounded to the nearest 0.10, therefore the sum of component items does not necessarily add to the totals shown. Figure 4 shows in more detail the expenditure differentials across the income distribution. However, there is also some divergence between the LCF expenditure data and the other three series, particularly in earlier years. Main points Average weekly household spending in the UK was 592.00 in the financial year ending (FYE) 2019, a similar level to FYE 2018 (589.60), after adjusting for inflation. Households in the richest fifth of households spent 17.90 per week on maintenance and repair compared with 4.70 by the poorest fifth. In the year to March 2021, average weekly expenditure for all households dropped by 106.40, coinciding with the coronavirus (COVID-19) related restrictions on social contact and economic activities; this is the largest annual fall observed in the last two decades. Since 2012, average expenditure has risen, increasing by 10.3% between 2012 and FYE 2019 once inflation has been accounted for. The average household contains 1.8 adults, so that's 1,800 per person. Each individual in a selected household is asked to complete a household interview and then an expenditure diary for two weeks. This relatively high expenditure in relation to income at the bottom of the distribution likely reflects in part that some of these households may be experiencing a temporary period of low income (Carerra, 2010). You can change your cookie settings at any time. Meanwhile, spending dedicated to purchasing new and second-hand vehicles was 30.90 per week, an increase of 2.00 (7%) in comparison with FYE 2020. As might be expected, average household expenditure increases across the deciles, with households in the top income decile spending on average 3.6 times more than those in the bottom decile. Housing and healthcare spending vary the most by generation as a percentage of overall spending. Estimates of the inflation rates experienced by different types of of household in the UK. Next release: To be announced. The average retirement income in the UK is also affected by regions. However, a shift in consumer behaviour towards online shopping may have reduced the impact in this category. Disposable income figures are on a financial year basis. Therefore, year-on-year changes should be interpreted with caution. 1. Average weekly expenditure for all households dropped from 587.90 to 481.50 in the year to March 2021. Households in the top income decile spend five times as much on recreation and culture than those in the bottom decile and proportionately more of their total spending is in this category, 14% compared with 10%. Family spending workbook 3: Expenditure by region Dataset | Released 19 March 2020 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. Household spending on recreation and culture remained below FYE 2020, largely resulting from reductions in spending on package holidays, in particular package holidays abroad, which remained 18.20 (68%) below FYE 2020. This is largely because of spending on actual rentals for housing (24% of their total expenditure). The average UK household spent the largest proportion of their expenditure on housing (net), fuel and power (17%) followed by transport (14%). Deciles are based on household equivalised disposable income (OECD-modified scale). Spending on recreation and culture also increased, but to a much smaller degree. Family spending workbook 3: expenditure by region Dataset | Released 31 May 2023 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. It does not include all types of payments, for example, capital mortgage repayments are excluded. Meanwhile, the richest fifth of households spent the greatest proportion of their total expenditure (17%) on other expenditure items, which is largely because of spending on mortgage interest payments (6% of their total expenditure). That's 40% less than what people report they save! Reductions in spending differed across the income distribution; the poorest fifth of households reduced their average weekly expenditure by 34.20 (10%), whereas the richest fifth reduced spending by 204.30 (22%). Components of spending based on fewer than 20 recording households, or where the average rounds to 0, do not appear in the tree map. This is consistent with the easing of coronavirus restrictions. All households that were not interviewed as a result were treated as non-responders and data were weighted to account for reduced data collection in March 2020 compared with previous years. Credit card spending is based on anonymized data from Personal Capital users, who tend to have a higher-than-average net worth. Not all categories of spending were included for clarity, the four categories with the highest contribution to average spending across all deciles are shown. The Consumer Prices Index (CPI) rose by 8.7% in the 12 months to April 2023, down from 10.1% in March; on a monthly basis, CPI rose by 1.2% in April 2023, compared with a rise of 2.5% in April 2022. Households with the lowest income are referred to as being in the bottom fifth, and those with the largest income are referred to as being in the top fifth. The LCF is a voluntary sample survey of private households. This analysis uses the modified Organisation for Economic Co-operation and Development (OECD) equivalence scale in taxes and benefits analysis (PDF, 166KB). Average weekly household spending in the UK was 592.00 in the financial year ending (FYE) 2019, a similar level to FYE 2018 (589.60), after adjusting for inflation. Figure 1 is an interactive tree map that enables you to explore average weekly household spending for FYE 2019 in more detail. Further details will be provided in the technical report for FYE 2021. Family spending workbook 1: detailed expenditure and trends Dataset | Released 31 May 2023 Detailed breakdown of average weekly household expenditure on goods and services in the UK. Over the past decade, the share of the population aged 65 and above has risen sharply and the share of the population in the peak stage of their lives for earning income and consuming (those aged 35-54) has declined noticeably (Graph 1). Hide. Average household income, UK: financial year ending 2021 Bulletin | Released 28 March 2022 Estimates of median and mean disposable income for people in the UK for the financial year ending 2021. Office for National Statistics (ONS), released 31 May 2023, ONS website, statistical bulletin, Family Spending in the UK: April 2021 to March 2022, All content is available under the Open Government Licence v3.0, except where otherwise stated, /peoplepopulationandcommunity/personalandhouseholdfinances/expenditure/bulletins/familyspendingintheuk/april2021tomarch2022, Figure 1: In financial year ending (FYE) 2022, average weekly expenditure increased by 6% per week while average household disposable income remained stable, Figure 3: Poorer households continue to proportionally spend more on housing, fuel and power in FYE 2022, Figure 4. We use this information to make the website work as well as possible and improve our services. This is nearly triple the annual average cost when you're in your 20s and 30s. All the findings in this bulletin are taken from data collected on the Living Costs and Food Survey (LCF). The decrease in expenditure in restaurants and hotels was driven by large decreases across all catering services (27.70 less) and accommodation services (6.90 less). Family spending workbook 5: expenditure on housing Dataset | Released 31 May 2023 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. For the financial year ending (FYE) 2019 (April 2018 to March 2019), average household spending in the UK was 592.00 per week, a similar level to FYE 2018 (589.60) after adjusting for inflation. Data are shown by place of purchase, income group (deciles) and age of household reference person. The spending preferences of children aged between 7 and 15 are revealed for the first time since 2004. Use our interactive family spending tree map to find out more about how families in the UK spend their money every week. Compared with the financial year ending 2020, average expenditure per household was 65% less on restaurants and hotels (34.60 less), 39% less on recreation and culture (29.30 less), and 25% less on transport (20.80 less). Equivalisation considers the number of people living in the household and their ages, acknowledging that while a household with two people in it will need more money to sustain the same living standards as one with a single person, the two-person household is unlikely to need double the income. Sources Key findings The average household's monthly expenses are $5,577 ($66,928 per year). We use this information to make the website work as well as possible and improve our services. Contact: Emma Barnes, Lee Colvin, Paula Croal. Average weekly expenditure for all households saw a nominal increase of 47.30 (10%) to 528.80 per week. Note that the percentage points shown are not directly comparable for the two time periods. We've pulled . Family spending workbook 2: Expenditure by income Dataset | Released 18 July 2022 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. Family spending workbook 1: Detailed expenditure and trends Dataset | Released 19 March 2020 Detailed breakdown of average weekly household expenditure on goods and services in the UK. Average total household spending since FYE 2002 is shown in Figure 2. Nominal estimates reflect the cash value of expenditure, such as the amount consumers would have spent in a shop at the time of purchase. It includes earnings from employment, private pensions, and investments, as well as cash benefits provided by the state. The research also showed that 16-24-year-olds are the age group with the highest beauty spend, using an average of 16 beauty products a day, worth 153 . Family spending workbook 4: Expenditure by household characteristic Dataset | Released 16 March 2021 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. COICOP is an internationally recognised classification system consistent with that used by UK National Accounts. One reason for this is because the weights used to improve the representation of our national expenditure and national income statistics differ. All spending estimates are rounded to the nearest 0.10, therefore the sum of component items does not necessarily add to the totals shown. Average savings by income in the UK Income is another critical metric that determines the average savings of people in the UK. As the number of one-person households continues to rise, analysis reveals the financial situation and personal well-being of those living alone. Where there is more than one person who is legally responsible in the household, the HRP is the person with the highest income. Consumption changes in response to the coronavirus pandemic are reflected in these annual spending estimates. Family spending workbook 3: Expenditure by region Dataset | Released 16 March 2021 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. Definition of household expenditure Dataset | Released 19 March 2020 Provides a detailed breakdown on the definition of household expenditure. Quintiles, or fifths, are based on household equivalised disposable income (OECD-modified scale), Household disposable income figures are from the, For more information on income distribution and equivalisation see, Quintiles, or fifths, are based off household equivalised disposable income (OECD-modified scale). Although both the LCF and household final consumption expenditure figures are both estimates of household consumption expenditure, there are differences in the concepts of spending, coverage of the populations, and sources and methodologies used, which mean there will be expected differences in the two series. Average rents across the UK have gone up again, rising to 1,213 a month, according to HomeLet. Definition of household expenditure Dataset | Released 19 March 2020 Provides a detailed breakdown on the definition of household expenditure. In 2021, average monthly expenses ranged from $3,405 for one person to $7,400 for a family of five or more, according to the U.S. Bureau of Labor Statistics. While spending on international travel and holidays abroad fell, in FYE 2022 spending on holiday accommodation in the UK increased by 1.40 (21%) above FYE 2020. This time period covers the 2008 economic downturn and subsequent recovery. Of the proportion of expenditure spent on transport, 30.90 of this was spent on the purchase of vehicles, most notably the purchase of second-hand cars, while 30.70 was spent on the operation of personal transport, most notably purchasing petrol, diesel, and other motor oils. The LCF is reviewed every year and changes are made to keep it up to date. Estimates of economic activity are typically available in nominal or real terms. This is not the latest release. This release considers household expenditure by age group. Compare your Monthly Spending by Age and Income [USA] Rank your spending compared to other American households of similar ages to the head of household, family sizes, and annual pre-tax incomes to see how your spending habits compare. Some coronavirus restrictions remained in place towards the end of 2021 and households experienced new financial pressures; domestic energy prices rose in the last six months of the financial year ending (FYE) 2022, as explained in the research briefing on the UK Parliament webpage, and the energy price cap was raised in October 2021. All rights reserved 2023 Infogram. An error has been identified in the Living Cost and Food (LCF) Survey which has been found to impact the Family spending in the UK: April 2018 to March 2019 release. Weekly household disposable income figures are from the. Spending on food and non-alcoholic drinks increased by 9% or 5.50 per week. Infogram and Infogr.am are registered trademarks of Prezi, Inc. Households have been ranked in ascending order of household equivalised disposable income (Organisation for Economic Co-operation and Development-modified scale) and then divided into decile groups to examine expenditure patterns across income groups. Rent accounts for the largest proportion of expense within housing, fuel and power for all households. Hide. Spending on food and non-alcoholic drinks fell by 8.20 to 62.20 per week, 2.70 below FYE 2020. Definition of household expenditure Dataset | Released 19 March 2020 Provides a detailed breakdown on the definition of household expenditure. Family spending workbook 1: Detailed expenditure and trends Dataset | Released 16 March 2021 Detailed breakdown of average weekly household expenditure on goods and services in the UK. Data are shown by place of purchase, income group (deciles) and age of household reference person. Estimates of income from 2001 to 2002 onwards have been adjusted for the under-coverage and under-reporting of the top earners. Average monthly spending by age How do your average monthly expenses compare? Family spending workbook 5: Expenditure on housing Dataset | Released 16 March 2021 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. The technical report for FYE 2021 will be released in autumn 2022. Average weekly household expenditure on goods and services in the UK, by age, income, economic status, socio-economic class, household composition and region. Notably, changes in expenditure relating to actual rental and mortgage interest payments. The differences seen in Figure 3 are a combination of differential impacts of income and expenditure changes across the income distribution as a result of the coronavirus pandemic. Household expenditure figures are on a financial year basis FYE 2002 to FYE 2006, calendar years 2006 to 2013 and FYE 2015 to FYE 2019. The LCF is a voluntary sample survey of private households. There was a statistically non-significant increase in spending on housing, fuel and power, not including mortgage interest payments, of 2% or 1.60 per week. Households spent an average of 481.50 per week in the year to March 2021. Spending in restaurants and hotels is also considerably higher in the top two deciles relative to those in lower deciles. Mortgage interest payments are included under other expenditure items according to the classification of individual consumption by purpose (COICOP) classification. We use this information to make the website work as well as possible and improve our services. Disposable income is the amount of money that households have available for spending and saving after direct taxes (such as Income Tax, National Insurance and Council Tax) have been accounted for. Figure 3 shows the mean weekly disposable income and the corresponding mean weekly expenditure. All content is available under the Open Government Licence v3.0, except where otherwise stated, /peoplepopulationandcommunity/personalandhouseholdfinances/expenditure/bulletins/familyspendingintheuk/april2020tomarch2021, Figure 1: In the year to March 2021, average weekly expenditure fell by 106.40 and average disposable income fell by 15.10, Figure 3: Richer households' average disposable income is much greater than their average expenditure, decreased by 0.6% in the year to March 2021. household disposable income and inequality statistics. Households spent on average 24.30 a week on mortgage interest in 2006, (adjusted for inflation), falling to 20.80 in FYE 2019. Equivalisation considers the number of people living in the household and their ages, acknowledging that while a household with two people in it will need more money to sustain the same living standards as one with a single person, the two-person household is unlikely to need double the income. Only anonymised data are supplied to users. Research on income impacts of the pandemic shows that workers on lower incomes were more likely to report a fall in income than those on higher incomes. A detailed data set for housing expenditure is provided in Family spending workbook 5 and recent data related to housing affordability can be found within Housing affordability in England and Wales. Hide. For example, spending on food and non-alcoholic drinks in the bottom decile is just over half that of those in decile 10, while overall spending for the bottom decile is less than one-third of that of decile 10, meaning that those at the lower end of the income distribution are spending proportionately more on food than those at the top. As stated above, it is recommended to use the household final consumption expenditure per head figures for interpreting trends, and exercise caution in interpreting long-term changes in the survey-based estimates of household consumption. Expenditure figures are adjusted for inflation using the Consumer Prices Index (CPI) specific to the classification of individual consumption by purpose (COICOP) category. Release: Family spending in the UK: April 2021 to March 2022. This release compares household expenditure across the income distribution. For clarity, not all categories of spending were included. According to NimbleFins analysis of data from the Office of National Statistics, the average UK household now spends around 4,296 on groceries and 1,628 on food at restaurants and takeaways every year. Family spending workbook 1: Detailed expenditure and trends Dataset | Released 18 July 2022 Detailed breakdown of average weekly household expenditure on goods and services in the UK. Figures have been deflated to FYE 2019 prices using deflators specific to the classification of individual consumption by purpose (COICOP) category. Income and Spending, by Age The data visualizations in today's post come to us from Engaging Data and they use Sankey diagrams to display data from the Bureau of Labor Statistics (BLS) showing differences in how various age groups in America earn and spend their money. We would like to use cookies to collect information about how you use ons.gov.uk. Family spending workbook 5: Expenditure on housing Dataset | Released 19 March 2020 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. It does not include all types of payments, for example, capital mortgage repayments are excluded as they are not a consumable item and instead add to personal wealth. Housing includes housing (net), fuel and power, mortgage interest and Council Tax and excludes mortgage capital payments. Expenditure figures are adjusted for inflation using the Consumer Prices Index (CPI) specific to the classification of individual consumption by purpose (COICOP) category. Latest release Data download Experimental indicator of household spending using bank transactions data Reference period February 2023 Released 12/04/2023 Future releases Previous releases Key statistics Household spending increased 11.8% through the year on a current price, calendar adjusted basis. Family spending workbook 2: expenditure by income Dataset | Released 31 May 2023 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. The age of a household refers to the age of the person who is legally responsible for the household, known as the household reference person (HRP). Family spending workbook 2: Expenditure by income Dataset | Released 16 March 2021 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. Please contact Carla Kidd at wealth.and.assets.survey@ons.gov.uk for more information. In comparison, workers on higher incomes were more likely to have their furlough pay topped up by their employer and thus paid in full, and were also more likely to be working in jobs that could be shifted to remote work from home. Great care is taken to ensure complete confidentiality of information and to protect the identity of LCF households. We would like to use cookies to collect information about how you use ons.gov.uk. That means the average retirement account at age 67 should be $619,000, based on Fidelity's guidelines. It is also the only source that gives very detailed categories of spending. The average. These policies affected people's abilities to travel and options for consumption. Mortgage interest payments, Council Tax and Northern Ireland rates are not included in Housing (net) fuel and power. Martinez suggests using a 50/30 . by age group; Outbound tourism spending from the UK Q1 2017-Q4 2021, by purpose . On average, households in the highest income decile spent almost four times as much as those in the lowest decile; however, their average disposable income was around 11 times higher, which suggests they had a greater ability to save. Similar to previous years, households spent the highest proportion of their total expenditure on housing, fuel and power (18%), food and non-alcoholic drinks (14%), and transport (13%). After adjusting for inflation, this was a real terms increase in average weekly household expenditure of 28.80 (6%) in FYE 2022; 78.80 (13% . This release provides deflated expenditure values. Data are shown by place of purchase, income group (deciles) and age of household reference person. You can change your cookie settings at any time. Tables under review are specified within the workbooks. This is the only source of data in the UK for the distribution of spending, that is, how much UK households spend in different areas relative to each other. In comparison to the financial year ending 2020, however, spending as a proportion of total expenditure on recreation and culture, and restaurants and hotels decreased by four percentage points and five percentage points, respectively. These errors were caused by a small number of questionnaire changes made in April 2018 not being reflected correctly in the LCF downstream processing systems. The biggest impact was on expenditure on transport (6% increase), specifically on loans or hire purchase of vehicles. Of their post-tax income, millennials spent an average of $52,874 a year, while Gen Xers spent $74,683 and baby boomers spent $63,325 a year. Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. However, many retirees spent less than that. However, there are other sources of data on household spending. Equivalisation is the process of accounting for the fact that households with many members are likely to need a higher income to achieve the same standard of living as households with fewer members. Family spending workbook 4: expenditure by household characteristic Dataset | Released 31 May 2023 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. Average weekly household expenditure on goods and services in the UK, by age, income, economic status, socio-economic class, household composition and region. It is important to note that the annual expenditure statistics published in this bulletin are not directly comparable against our annualincome statistics published in our Average household income, UK: financial year ending 2022 bulletin. Average weekly household expenditure on goods and services in the UK, by age, income, economic status, socio-economic class, household composition and region. Equivalisation is the process of accounting for the fact that households with many members are likely to need a higher income to achieve the same standard of living as households with fewer members. The LCF is a UK household survey designed to provide information on household expenditure patterns and food consumption. Where households are experiencing temporary low-income spells, some may be able to maintain their consumption level and thereby their living standards fairly constantly, through the use of savings or borrowing. Average weekly household expenditure on goods and services in the UK, by age, income, economic status, socio-economic . Research undertaken to investigate whether there are differences in household expenditure in UK island communities, specifically the Isles of Scilly and Orkney, compared with the mainland. In 2020, U.S. households led by someone age 65 or older spent an average of $45,270, according to data from the Bureau of Labor Statistics. It does not include all types of payments, for example, capital mortgage repayments are excluded as they are not a consumable item and instead add to personal wealth. We would like to use cookies to collect information about how you use ons.gov.uk. Our more recent data on Coronavirus and its effects on household consumption shows that while household expenditure experienced a larger fall as a result of the coronavirus pandemic compared with the 2008 economic downturn, spending recovered sooner. The right time to save. In particular, we produce estimates of household final consumption expenditure within the Consumer trends release as part of the UK National Accounts. The survey is continuous, interviews being spread evenly over the year to ensure that seasonal effects are covered. Spending on housing (net), fuel and power decreased in FYE 2022 by 0.60 to 87.70 per week yet remained 2.00 above FYE 2020. Equivalisation is the process of accounting for the fact that households with many members are likely to need a higher income to achieve the same standard of living as households with fewer members. The average UK household spends 916 on alcohol each year, based on an average household size of 2.4 people484 for consumption at home and 432 on drinks out of the house. The government's most recent data (taken from 2017/18) shows the average weekly income for pensioners to be 304 - that's after you've taken away direct taxes and housing costs. If there is more than one person with the same income, the eldest member of the household becomes the HRP. For clarity, not all COICOP categories are presented. Despite these increases, spending in these categories remained below FYE 2020, prior to the coronavirus pandemic. These differences between the income and expenditure distribution are explored in more detail in An expenditure-based approach to poverty in the UK. Great care is taken to ensure complete confidentiality of information and to protect the identity of LCF households. The average weekly amount UK households spent on clothing amounted to 11.70 British pounds in 2021. Households have been ranked in ascending order of household equivalised disposable income (Organisation for Economic Co-operation and Development-modified scale) and then divided into quintile groups to examine expenditure patterns across income groups. The average weekly household expenditure for households where the reference person was aged between 30 and 49 in the United Kingdom was approximately 562.1 British pounds a week in 2020/21, the. Data collected in March 2020 may have covered changes to spending habits around the start of the first UK lockdown on 23 March, for example panic buying beforehand and reduced spending during lockdown when people were advised to stay at home and many businesses were closed. Household expenditure figures are on a financial year basis FYE 2002 to FYE 2006, calendar years 2006 to 2013, and financial years FYE 2015 to FYE 2021. Therefore, total average weekly household expenditure is equal to the total weekly expenditure of households divided by the number of households. Youve accepted all cookies. COICOP is an internationally recognised classification system consistent with that used by UK National Accounts. Social renters also spent more than owners, 93.60 per week. All real estimates used in this article are generated using the datasets from our Consumer price inflation time series. This headline release uses the mean when referring to averages unless stated otherwise. Mortgage interest payments, Council Tax and Northern Ireland rates are not included in Housing (net), fuel and power. Estimates of economic activity are typically available in nominal or real terms. We apologise for any inconvenience. We apologise for any inconvenience. Each individual in a selected household is asked to complete a household interview and then an expenditure diary for two weeks. Household spending in FYE 2022 varied across the income distribution, with the richest fifth of households' total weekly expenditure more than twice that of the poorest fifth of households (811.20 and 329.80, respectively). Income shown is mean household disposable income (not equivalised). This is the latest release. The LCF is a voluntary sample survey of private households. In comparison, mean household disposable income was six times greater in the richest fifth of households than the poorest fifth, as shown in our Average household income, UK: financial year ending 2022 bulletin. The richest two deciles spend four to five times as much on recreation and culture than those in the poorest decile and proportionately more of their total spending is in this category 16% for decile 9 and 14% for decile 10 compared with 10% for decile 1. Average weekly household expenditure on goods and services in the UK, by age, income, economic status, socio-economic class, household composition and region. Transport,. COICOP is an internationally recognised classification system consistent with that used by UK National Accounts. Households in decile 9 spend 3.7 times more than those in the lowest decile and 3.3 times as much as those in decile 2. A number of tables within the family spending workbooks have been placed under review to be removed from future publications. Real estimates take into account how the average price of items change over time and are adjusted to the price-levels captured in the most recent data point for example, in this bulletin, the prices of goods and services are adjusted to the average prices in the financial year ending (FYE) 2022. This 18% drop in spending exceeds any year-on-year decrease throughout the 2008 economic downturn and subsequent recovery, which averaged only 2%. Expenditure in recreational and cultural services, including sports, live entertainment and social events decreased by 8.50 per week and spending on package holidays dropped by 21.70. It includes earnings from employment, private pensions and investments, as well as cash benefits provided by the state. Family spending workbook 4: Expenditure by household characteristic Dataset | Released 18 July 2022 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. The survey is continuous, interviews being spread evenly over the year to ensure that seasonal effects are covered. As a result, UK households spend 16% of their budgets on food and non-alcoholic drinks. However, expenditure on indoor or at-home entertainment increased: expenditure in TV, videos and computers increased by 0.60 (21%), other major durables for recreation and culture (including purchases of musical instruments, boats, and caravans) increased by 0.50 (25%), and other recreational items and equipment, gardens and pets increased by 0.80 (5%). In FYE 2020, the richest fifth of households spent 39% of their total expenditure on transport (15%), recreation and culture (14%) and restaurants and hotels (10%). Average household income, UK: financial year ending 2022 Bulletin | Released 25 January 2023 Final estimates of median and mean household income in the UK, with analysis of how these measures have changed over time, accounting for inflation and household composition. After adjusting for inflation, this was a real terms increase in average weekly household expenditure of 28.80 (6%) in FYE 2022 consistent with easing of COVID-19 restrictions; but remained 78.80 (13%) below pre-pandemic spending in FYE 2020. This works out at around 15,080 net per year. Findings from our time use analysis also show that richer households spent more time on DIY during lockdown. View previous releases, Contact: Email Emma Barnes, Lee Colvin, Paula Croal. The lack of flexibility in adjusting spending for lower-income households may indicate greater vulnerability to further economic shocks, such as the rising cost of living in 2022, that affects spending on essentials such as food and fuel. View latest release. In the financial year ending (FYE) 2020, the period immediately prior to the coronavirus (COVID-19) pandemic, average weekly household spending in the UK was 587.90, down slightly (not significantly) from FYE 2019 (603.10 adjusted for inflation), despite average income increasing modestly during the same period. Spending levels are indexed relative to the highest decile to show the relative difference in spending by decile on a comparable basis. The distribution of household disposable income, (not equivalised) is also shown to illustrate how income typically varies across the deciles (the income figures are not equivalised to be on a comparable basis to household spending). Almost two-thirds (65%) of people believe they wouldn't be able to last three months without borrowing money. Further information about changes to data collection and processing resulting from the coronavirus pandemic can be found in Section 6: Strengths and limitations. All year-on-year changes in spending in aggregate-level classification of individual consumption by purpose (COICOP) categories are statistically significant except for spending on alcoholic beverages and tobacco, housing, fuel and power, and furnishing and household equipment. We use this information to make the website work as well as possible and improve our services. This bulletin uses the mean when referring to averages unless stated otherwise. Family spending workbook 2: Expenditure by income Dataset | Released 19 March 2020 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. Other COICOP spending includes: alcoholic drinks, tobacco and narcotics, clothing and footwear, health, communication, education, miscellaneous goods and services and other expenditure items (minus mortgage interest, Council Tax and so on). 2 On average, US households under age 55 spend almost $58,000 a year on a wide variety of expenses. more recent data on Coronavirus and its effects on household consumption, card spending data that shows a substantial increase in online spending over this period, with a small recovery in consumer spending only seen from May 2021, the coronavirus lockdown restrictions and social distancing measures, a shift in consumer behaviour towards online shopping, household disposable income and inequality statistics, workers on lower incomes were more likely to report a fall in income, Family spending workbook 1: Detailed expenditure and trends, Family spending workbook 2: Expenditure by income, Family spending workbook 3: Expenditure by region, Family spending workbook 4: Expenditure by household characteristic, Family spending workbook 5: Expenditure on housing, Statistics and Registration Service Act 2007, Average household income, UK: financial year ending 2021. Additionally, expenditure decreased by 38% on clothing and footwear (8.90 less). " In the UK, respondents with a household reference person aged 30 to 49 spent an average of 19 pounds and 20 pence a week on clothing and footwear, this was the highest spend out of all age groups . These are calculated by taking an average of the quarterly estimates of our Consumer Price Index (CPI) by classification of individual consumption by purpose (COICOP) category in each financial year and re-basing them to financial year ending (FYE) 2022 prices. Includes all spending on goods and services by members of UK households. This release considers household expenditure by age group. General long-term trends of total household spending are more accurately reflected in the household final consumption series, while detailed categories of spending and distributional and household composition measures are only available from the family spending reference tables. Section 2 of this bulletin references housing costs outside the COICOP classification system; this is to give a more complete view of this topic area. Decreases were driven by reductions in spending on restaurants and hotels (a weekly decrease of 34.60, or 65%), recreation and culture (29.30 less, or 39%), and transport (20.80 less, or 25%). Youve accepted all cookies. Although spending generally decreased across all households, the implied potential to save money differed across the income distribution. Only anonymised data are supplied to users. Among adults aged between 30 and 49, this was considerably higher at 15.70 British pounds.. The overall impact is that average weekly household expenditure in the UK was underestimated by about 1%, while the interpretation of the statistics remained the same. We use this information to make the website work as well as possible and improve our services. Where does the typical household budget go? Households with the smallest income lie in the first quintile and those with the largest income lie in the top quintile. An additional housing tenure calibration control has been added to the calculation of weights in this FYE 2021 dataset to adjust for changes in the demographics of the LCF respondents during the coronavirus pandemic, following the switch from face to face to telephone collection. People who rent unfurnished and furnished homes spent 192.70 and 261.80 per week, respectively, compared with 48.20 spent by those who own their homes outright. Household expenditure in the UK, FYE 2019. Average household weekly expenditure in the UK, FYE 2022. You can change your cookie settings at any time. Family spending workbook 4: Expenditure by household characteristic Dataset | Released 19 March 2020 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. In fact, 15% of our household budgets goes towards transportation, up to 32% towards rent or mortgage interest payments and 11% to feed ourselves. Covers the period from March 2020 to December 2020. This is consistent with our card spending data that shows a substantial increase in online spending over this period. Other expenditure items also include licenses, fines and transfers, holiday spending and money transfers and credit. Further information on trends in overall household spending in relation to other sources is available in Section 3 of this bulletin. Households spent an average of 77.20 on recreation and culture, including on package holidays, TV and streaming subscriptions, sports, and pets. Transport, housing and recreation and culture were the largest components of household spending, together accounting for 44% of total household expenditure. View latest release. By contrast, after accounting for inflation, household spending per head in the LCF was broadly unchanged over the same period. You may need to be sitting down for this. Adults of working age (from 18 to 64 years) decreased spending in transport by 24.0or more, compared with a 16.60 decrease for those aged above 65 years. The largest contributor was transport spending, which fell from 87.40 a week in 2006 to 70.30 in 2012. We would like to use cookies to collect information about how you use ons.gov.uk. Final March interviews took place on Monday 16 March 2020. Spending on these expenditure categories together accounted for 41% of total average weekly household spending (44% when mortgage interest is included in housing). Only anonymised data are supplied to users. Between 2006 and 2012, average weekly spending fell by 7.5% after accounting for inflation, driven by falling spending across a wide range of categories (Figure 3). More quality and methodology information on strengths, limitations, appropriate uses, and how the data were created is available in the Living Costs and Food Survey technical report and QMI. It includes earnings from employment, private pensions and investments, as well as cash benefits provided by the state. Figure 4 also shows that relative levels of spending across the income distribution vary more for some categories than others. Real estimates also can change over time, reflecting only the movements in the quantities purchased. Figure 6 compares trends across these two consumption expenditure measures on a per-head basis. These can change over time, reflecting movements in prices and quantities purchased. Another way to boost savings is by cutting spending. Lower-incomehouseholds spent a greater proportion of their expenditure on housing, fuel and power and food and non-alcoholic drinks; spendingin these categories is essential so these households were less able to cut back on their overall spending. Household spending on transport has not returned to FYE 2020 levels. This release discusses income decile groups. All content is available under the Open Government Licence v3.0, except where otherwise stated, /peoplepopulationandcommunity/personalandhouseholdfinances/expenditure/bulletins/familyspendingintheuk/april2018tomarch2019, Figure 2: The increase in average total household expenditure has stagnated since FYE 2017, Figure 3: Increased expenditure between 2012 and FYE 2019 driven by transport, household goods and services and recreation and culture categories, Figure 4: Spending on food and non-alcoholic drinks varies least by decile, Figure 5: The highest decile spend almost twice as much as the lowest on food and non-alcoholic drinks yet their proportionate spend is half, Figure 6: Source comparisons suggest survey-based estimates are primary source for distribution of spending, however longer-term trends should be interpreted cautiously, Housing affordability in England and Wales, distribution of household disposable income, An expenditure-based approach to poverty in the UK, OECD Framework for Statistics on the Distribution of Household Income, Consumption and Wealth, Average household income: financial year ending 2019, Family spending workbook 1: Detailed expenditure and trends, Family spending workbook 2: Expenditure by income, Family spending workbook 3: Expenditure by region, Family spending workbook 4: Expenditure by household characteristic, Family spending workbook 5: Expenditure on housing, Statistics and Registration Service Act 2007, Living Costs and Food Survey technical report, Average household income, UK: financial year ending 2019, An expenditure-based approach to poverty in the UK: financial year ending 2017, Housing affordability in England and Wales: 2019. The highest average savings by age in the UK is for people above 55 years of age, at 20,028, closely followed by an average of 11,013 for people between 45 and 54. This is reflected in Figure 5, which shows that spending on food accounted for 14% of total spending in the bottom decile, compared with 7% for the top decile. The decrease in mortgage interest expenditure can be explained by reduced mortgage interest rates and reduced proportions of households with a mortgage during this period. This release uses data from the Living Costs and Food Survey (LCF). Average savings by age: The average UK savings pot for 25 - 34-year-olds is around 3,544.16, compared with 20,028.60 for those aged 55 and over. Therefore, total average weekly household expenditure is equal to the total weekly expenditure of households divided by the number of households. Household debt in Great Britain April 2016 to March 2018, taken from the sixth round of the Wealth and Assets Survey. Savings accounts are the most popular savings method among UK adults, with over half (57%) using these to save money. Family spending workbook 3: Expenditure by region Dataset | Released 18 July 2022 Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition. Spending on housing (excluding mortgage capital payments) follows a similar trend, with households in the lower two deciles spending 28% (decile 1) and 27% (decile 2) of their total spending on housing and the upper two deciles spending 19% (decile 9) and 18% (decile 10) of their total spending on housing. More quality and methodology information on strengths, limitations, appropriate uses, and how the data were created is available in the latest Living Costs and Food Survey technical report and QMI. All spending estimates are rounded to the nearest 0.10, therefore the sum of component items does not necessarily add to the totals shown. In the financial year ending (FYE) 2020, the period immediately prior to the coronavirus (COVID-19) pandemic, average weekly household spending in the UK was 587.90, down slightly (not. As a result of these changes and subsequent changes to data processing, not all the collected data could be processed. The LCF is reviewed every year and changes are made to keep it up to date. For 2006 to 2012, the overall change is negative 7.5%, and for 2012 to the FYE 2019, the overall change is 10.3%. Great care is taken to ensure complete confidentiality of information and to protect the identity of LCF households. Average spending on housing, fuel and power (excluding mortgages) was 79.40, though when mortgage interest payments are added, this increases to 100.20. Further information about changes to data collection and processing resulting from the coronavirus (COVID-19) pandemic can be found in Section 6: Strengths and limitations. More detailed guidance on sources for household income can be found in this guide. Consumer trends, UK: October to December 2022 Bulletin | Released 31 March 2023 Household final consumption expenditure (HHFCE) for the UK, as a measure of economic growth. All content is available under the Open Government Licence v3.0, except where otherwise stated, /peoplepopulationandcommunity/personalandhouseholdfinances/expenditure/bulletins/familyspendingintheuk/april2019tomarch2020, together with those on lower incomes are among the groups most affected by labour market shocks associated with the coronavirus (COVID-19) pandemic, Family spending workbook 1: Detailed expenditure and trends, Family spending workbook 2: Expenditure by income, Family spending workbook 3: Expenditure by region, Family spending workbook 4: Expenditure by household characteristic, Family spending workbook 5: Expenditure on housing, Statistics and Registration Service Act 2007, Living Costs and Food Survey technical report, Personal and economic well-being in Great Britain: January 2021, Average household income, UK: financial year 2020. However, the extent to which expenditures vary across the distribution is less than that for income; households in the top income decile have an average income 10 times higher than that of the poorest. More quality and methodology information on strengths, limitations, appropriate uses, and how the data were created is available in the Living Costs and Food Survey technical report and QMI. Notably, there was a shift away from expenditure in large supermarket chains (negative 4.0%) towards other outlets (13%) and internet expenditure (131%). Data collected over this period will include changes to spending that occurred as a result of the restrictions put in place to slow the spread of coronavirus (COVID-19), including lockdowns, home-working, social distancing measures, and vaccine rollout amongothers. Information on trends in overall household spending on transport ( 6 % in! 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You use ons.gov.uk the movements in prices and quantities purchased Infogr.am are registered trademarks of Prezi, Inc 2002 have. Year on a per-head basis repair compared with 4.70 by the state 2021, by group... Designed to provide information on trends in overall household spending on food and non-alcoholic increased. Reduced the impact in this category and investments, as well as cash provided! Being spread evenly over the year to March 2018, taken from data on. The purchase and loan of vehicles it is also considerably higher at British!, interviews being spread evenly over the year to March 2022 care is taken to ensure complete confidentiality information! Unchanged over the same income, the implied potential to save money money. Of income from 2001 to 2002 onwards have been deflated to FYE 2019 once inflation has been by... 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Spending workbooks have been adjusted for the largest contributor was transport spending, which averaged only 2 % prices. 93.60 per week inflation, household spending per head in the household, the implied potential to save money across! However, there was a 13 % increase in online spending over this period findings the average savings income... An expenditure-based approach to poverty in the UK, rising to 1,213 a,! Combination of these changes and subsequent changes to data processing, not all coicop categories presented! The 2008 economic downturn and subsequent recovery, which averaged only 2 % the UK Q1 2021!
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