"New research from Creditspring reveals that the average Brit has spent hundreds of pounds in the past year on unplanned expenses - from car repairs and broken appliances to vet bills and home emergencies - with millions now worried that the upcoming Autumn Budget will make life even more expensive. The study, conducted ahead of the 26 November Budget, showed up to 46 million Brits have faced unexpected costs over the past 12 months, highlighting how fragile many households' finances remain."
"Car troubles top the list of financial shocks, with over a third (35%) of people facing car repairs or breakdowns in the past year, spending an average of £518 to get back on the road. A similar proportion (33%) had to replace or repair a home appliance, at an average cost of £426, while a further 33% were hit by home repairs such as leaks or damage, costing £618 on average."
Up to 46 million Brits faced unexpected costs over the past 12 months, leaving many household finances fragile. Car repairs or breakdowns affected 35% of people, costing an average of £518. Around 33% replaced or repaired home appliances, averaging £426, and 33% faced home repairs averaging £618. One in five incurred vet bills averaging £457, while 8% covered funerals costing more than £1,000. Moving house and job loss imposed larger average costs of £1,688 and £1,343 respectively. Most would use savings for smaller shocks, but 25% would need to borrow or cut back to cope.
Read at London Business News | Londonlovesbusiness.com
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