Everyday in the UK
Personal Debt in the UK
The population of the UK shrunk by an estimated 1,584 people a day between mid-year 2021 and mid-year 2022.
- On average, a UK household spends £5.20 a day on water, electricity, and gas.
- 326.2 people a day were declared insolvent or bankrupt in England and Wales in the three months to October 2024. This was equivalent to one person every 4 minutes and 20 seconds.
- In Northern Ireland in the three months to September 2024, there were 4.3 insolvencies per day. In Scotland in the three months to June 2024 there was 20.5 insolvencies per day.
- Citizens Advice Bureaux in England and Wales dealt with 1,240 debt issues every day in the year to October 2024.
- 10.76 properties were repossessed every day in July to September 2024 in the UK, or one every 2 hours and 20 minutes.
- The number of UK mortgages with arrears of over 2.5% of the remaining balance increased by 18.1 a day in the year to September 2024.
- The number of people unemployed in the UK increased by 215 per day in the twelve months to September 2024.
- 978 people a day reported they had become redundant in August to October 2024.
- Net lending to individuals and housing associations in the UK grew by £82.5 million a day in September 2024.
- Government debt increased by £518.6 million a day in in the three months to September 2024.
- Borrowers paid £223 million a day in interest in September 2024.
- It costs an average of £39.54 per day for a couple to raise a child from birth to the age of 18.
- For a lone parent family, the cost of raising a child comes to £44.26 per day.
- 66.7 mortgage possession claims and 34.8 mortgage possession orders were made every day in England and Wales in July to September 2024.
- 260 landlord possession claims and 196.3 landlord possession orders were made every day.
Arising from the current climate
The UK has undergone a significant degree of political and financial turmoil over the past few years. The pandemic and ongoing cost of living and energy crises, among other events, have affected the lives and finances of many people across the UK. Following are some striking statistics, curated over the last few weeks to reflect the situation as it evolves:
£713
The extra amount the average UK household spends in December compared to other months, a 29% increase (Bank of England).
0.7%
The percentage retail sales volumes fell by in October 2024, following a rise of 0.1% in September (ONS).
£68 million
The amount Halifax customers added to their savings by utilising ‘Save The Change’ in 2024 (Halifax).
£32.57
The average amount a Christmas dinner for four has increased compared to December 2023 (Kantar).
18 million
The number of house insurance policies bought online in 2024, an increase of 75,000 on 2023 (Confused.com).
1 in 4
The proportion of drivers reducing their level of car insurance covers to minimise costs (Citizens Advice).
34%
The proportion of households who held a loan for food or other essential spending in October 2024 (Joseph Rowntree Foundation).
Statistics Source: http//www.themoneycharity.org.uk
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