Posted by Richard Willett - Memes and headline comments by David Icke Posted on 31 January 2024

Number of Britons with ZERO spare cash at the end of the month surges

The percentage of people with no spare cash at the end of each month nearly doubled between 2022 and 2023, findings from Nationwide Building Society suggest.

The percentage of households with zero cash left at the end of the month rose from 11 per cent in 2022 to 21 per cent in 2023.

More than one in five, or 22 per cent, of households have less than £100 going spare at the end of the month, compared to just 13 per cent in 2021, Nationwide said.

The data reveals average monthly household energy bills increased by 63 per cent between 2021 and 2023, while monthly food and motor fuel costs have also increased by over 30 per cent.

Since 2021, average monthly mortgage repayments have jumped by 22 per cent, while average monthly rental costs have surged by 26 per cent, according to the research.

Saddled with sky-high living costs, 69 per cent of households are more worried about their finances and capacity to cope with ever rising costs.

Nationwide said the average amount of disposable cash left over at the end of each month had, on average, fallen from £328 in 2021 to £295 in 2022 and £237 at the end of 2023.

Average monthly energy bills came in at £126 in 2021, but rose to around £205 per month last year, the findings suggest.

Meanwhile, average monthly motor fuel costs are around 39 per cent higher than back in 2021, coming in at £121 per month in 2023.

Soaring food prices became a major issue in 2023, with food price inflation peaking at over 19 per cent in March 2023.

Average monthly food bills were £191 in 2021, £213 in 2022 and £253 last year, representing a 32 per cent increase during the period, Nationwide said.

Read More: Number of Britons with ZERO spare cash at the end of the month surges

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