Family life is expensive – could you be unwittingly sat on a small family fortune?

Managing a family on a budget is no easy task.

 Family life is expensive

The latest family spending survey by the Office for National Statistics says that average weekly household spending costs £528.90 in the financial year ending 2016.

Family life has changed massively in recent years and we fork out for so many different items and services – what we spend our money on is different for everyone. The ONS spending survey highlights some interesting findings:

  • Low-income households continued to spend a higher proportion of their expenditure on food and energy when compared with households with a higher income.
  • UK households spent more than £45.00 a week on restaurants and hotels for the first time in 5 years.
  • Average weekly spending on alcohol, tobacco and narcotics fell below £12.00 for the first time.
  • Over half of money spent on communication was spent on a mobile phone-related cost.

For many families it’s important to stretch the weekly or monthly family budget as far as possible and for many it’s a struggle with little or nothing left at the end of the month. A windfall or a bit of good fortune can make all the difference and relieve some of the financial pressure.

If you need to find a little extra, one avenue worth pursuing is looking into whether you’ve ever taken out PPI – even if you don’t think you did it is worth checking. There’s nothing to lose – only potentially your claim to your own money!

We Fight Any Claim (WFAC) estimates that around 10 million Brits have yet to come forward to stake their claim on the £40bn assigned by the banks to payout to misled customers.

According to WFAC, the average PPI offer is £1,247.61 and since the PPI scandal, a total of £26.2bn has been paid back to UK consumers. In fact the business recently secured a payout of over £100,000 for one customer.

DIY projects or even moving house, a fantastic family holiday, a brand-new family new car or saving for the future – these are just some of the items WFaC customers have spent their money on.

Valerie Cozens from West Sussex got back £6,000 for mis-sold PPI with the help of We Fight Any Claim. She said: “Other companies had tried and failed to reclaim any payments for me and I did think that after speaking with We Fight Any Claim that I wouldn’t get much out of it if anything. The amount I received was £6,000 and it has really helped me. I left it in my bank for two weeks before telling my youngest daughter – she can keep secrets! I then splashed out on a couple of little holidays and then I helped my middle daughter out because she was struggling to manage financially. I’ve still got some money leftover – it does help with peace of mind as you know you’re not struggling. I’ve got a back-up now.”

We Fight Any Claim is one of the  largest claims management companies having reclaimed over £340 million in compensation for thousands of customers since 2010. It is a family-run business based in Cwmbran, South Wales employing over 600 staff.

Find out more at www.wefightanyclaim.com or by calling their team on 0800 355 0000.

 

 

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2 Comments

  1. Morgan Pamela
    April 7, 2017 / 08:53

    Nice blog. Budgeting is very important for every family. With limited resources in hand, it gets very essential for each one of us to plan our expenses accordingly. It is very important to understand that the times have changed now and the cost of each item has become double. Keep sharing such blogs. It is really helpful.

  2. Sarah Hooperuk
    April 7, 2017 / 10:23

    Nice blog. Budgets are very important for a family. With less resources in hand, it is very important for each one of us to plan our expenses accordingly. It is very important to understand that the times have changed now and the cost of each item has become double. Keep sharing such blogs. It is really helpful.

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