Managing a family on a budget is no easy task – Family life is expensive
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.
Family life is expensive is a guest post