UK Households Spend 11.1% of Monthly Income on Utilities

New study reveals that UK households spend 11.1% of their monthly income on utilities. Experts share their top tips on how to save on your bills.

 

How Much Are We Spending On Utilities?

The research delves into the data and analyses the average monthly income in each country, the monthly price of water and gas, electricity, broadband and the average cost of 1GB of mobile data, to discover how much countries are spending on energy bills and what percentage of their monthly income this equates to.

With the cost of living constantly being on the rise and gas prices skyrocketing, paying for the energy we use has become increasingly challenging.

UK households were revealed to spend 11.1% of their monthly income on utilities, with gas and water taking up the majority of the UK’s spending on utility bills at 6.4%. On the other hand, electricity takes up 3.6% of the average monthly income.

The UK ranks in the top 10 both for the lowest proportion of income dedicated to broadband (1.1%) and for lowest proportion of income dedicated to mobile data (0.04%).

 

Top 10 Countries Spending Lowest Portion of Monthly Income on Utilities

The research also revealed the top 10 countries spending the lowest portion of their monthly income on utilities.

The country with the lowest household expenditure on utilities is Switzerland, this comes as no surprise as the alpine country has the highest monthly income on the study’s list, of £5,069. In second place, Singapore also has one of the highest incomes on the list of £3,370 per month, resulting in utility bills only adding up to 6.3% of this total. Next up, utility bills in Ireland take 6.5% of the average monthly income.

 

Tips On How To Save Money On Energy Bills

Experts at Utility Bidder have also provided some tips on how to save money on your energy bills:

● The easiest way to start saving on your bills is to turn off your appliances when you’re not using them – even in standby mode, in fact, appliances still use electricity.

● Turning your lights off every time you leave a room could save you up to £20 a year, according to Utility Bidder.

● Dialling down the temperature on your washing machine to 30ºC could save you up to £28 a year, and reducing the number of washing cycles to one a week could knock another £8 off your bill!

● Opting for drying your clothes on clothes racks or outside in the sun could save you up to £55 a year!

● Last but not least, turning down your thermostat by only 1ºC can reduce your heating bill by around £80!